|Title||2018 Korean Machine Tool Industry Landscape|
|Manager||Ralphy Song||Department in charge||Exhibition Managment Team|
[Korean Market Intelligence]
2018 Korean Machine Tool Industry Landscape
Production 3%+, Exports 6%-, Imports 10%+
Powered by domestic & global economic pick-up, Korean machine tool industry will maintain upward trends, according to the preliminary analysis & forecast by Korea Machine Tool Manufacturers' Association (KOMMA).
Korean machine tool production is expected to register a more than 3% expansion YoY this year, riding on the rising demand from end-user industries, especially semiconductor and 4th Industrial Revolution related industries.
The increase rates of exports & imports are forecast at 6% & 10%, respectively. "The emerging rush of domestic industries facility investment will probably enhance imports of foreign-made machine tool," KOMMA professionals said.
Meanwhile, KOMMA has disclosed that the majority of its member companies expressed optimistic outlook over domestic & global machine tool market tone.
Responding to KOMMA questionaries, more than 42% of their answers were that they expect their 2018 sales volume will rise 8.5%, domestic demand 9.8% and exports 7.2%, respectively.