Over 60 pct of large firms expect exports to grow in H2: survey

Over 60 percent of large companies in South Korea predict the country's exports to see on-year growth during the second half of the year, according to a poll released Monday. According to the survey conducted recently by polling agency Mono Research on the top 1,000 domestic companies in terms of sales, 63.2 percent said they anticipate an increase in the country's exports during the July-December period compared with a year ago. The survey was commissioned by the Federation of Korean Industries. By industry, more than half of the companies in the shipbuilding, petrochemical, biohealth, auto parts, electronics and automobile industries expected an increase in exports during the second half. On the contrary, more than half of companies producing steel and petroleum products forecast a decrease in exports. Among factors favorable for exports, 35.4 percent of respondents cited improved business conditions, while 15.6 percent picked enhanced product competitiveness. Of the companies, 29 percent cited risin g raw material costs as a risk that could impact exports, while 27.6 percent cited a likely delay in the growth of market demand. Source: Yonhap News Agency