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KIET Industrial Economic Review

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  • 정기간행물
  • KIET Industrial Economic Review

Muddling Through 1998: Korean Major Industries Strive for Recovery

저자 Oh, Kyu-Chang 발행일 제 호 (2005.09.22)
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The Korean auto industry plunged into a severe slump after the second largest assembler,
Kia Motors, was brought under court receivership and the economic crisis swept across
the country in late 1997. This year, production in the Korean automobile industry has
dropped by more than 33 percent over the same period in 1997. As a result, the operating
ratio in the industry plummeted to below 50 percent on average. Domestic sales have been
extremely sluggish so far this year with the growth rate dropping by more than 50 percent
on a year-on-year basis. This is a sharp contrast to the two-digit growth rate of the
domestic market Korean assemblers had enjoyed since the late 1980s.