Analysis of the development of Korean machine tool industry from January to June 2010

Abstract According to the latest statistics provided by the Korea Machine Tool Manufacturers Association (KOMMA), from January to June 2010, the total value of Korean machine tools was 127.927 billion won, an increase of 55.14 over the same period of 2009 of 820.485 billion won...

According to the latest statistics provided by the Korea Machine Tool Manufacturers Association (KOMMA), from January to June 2010, the total value of Korean machine tools was 127.927 billion won, an increase of 55.14% from 820.485 billion won in the same period of 2009. Among them, in June 2010, the output value of Korean machine tools was 245.871 billion won, an increase of 6.66% from the previous month's 230.527 billion won, and an increase of 99.92% from 12,298.85 in June 2009.

From January to June 2010, Korea’s cumulative machine tool orders reached 1.768525 trillion won, an increase of 117.13% from the 814.152 billion won in the same period in 2009. Among them, in June 2010, South Korea's new machine tool orders were 299.722 billion won, down 21.25% from the previous month's 380.603 billion won, a significant increase of 137.78% from the same period of 2009, 136.774 billion won.

After the financial crisis, the South Korean government promoted the Korean auto market to recover gradually by expanding budget support, developing new models and reducing taxes, and also boosted the machine tool industry. At present, industry orders have basically recovered to pre-crisis levels. It is predicted that the Korean domestic machine tool market is expected to return to 2007 levels in 2010, driven by manufacturing demand in the Korean auto industry, semiconductor industry and display industry.

In terms of import and export trade, from January to June 2010, South Korea's cumulative import of machine tools was 633 million US dollars, up 27.36% from 497 million US dollars in the same period last year. Among them, in June 2010, South Korea imported machine tools of $117 million, an increase of 22.59% from the previous month's $96 million, an increase of 9.35% from the June 2007 figure of $107 million.

From January to June 2010, South Korea exported 724 million US dollars of machine tools, an increase of 21.89% over the same period last year of 594 million US dollars. Among them, in June 2010, South Korea exported 160 million US dollars of machine tools, an increase of 8.5% from the previous month's 147 million US dollars, an increase of 90.48% compared with last year's US$84 million; due to the relatively slow economic recovery in Europe and the United States, South Korea's machine tool exports still There is no full recovery, slower than the pace of recovery of domestic demand.

At present, China is Korea's largest machine tool export market, and South Korean machine tool manufacturers are planning to develop products suitable for Chinese users' needs, thereby expanding their market share in China. From the following chart, from January 2009 to May 2010, the monthly export volume of Korean metal processing machine tools exported to China can be seen: In July 2009, South Korea’s exports of metalworking machine tools to China gradually fell to the lowest point. After that, the volatility rebounded and it is now close to the previous high level.

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