S. Korean firms less pessimistic on Q2 exports

SEOUL, March 26 (Yonhap) -- South Korea's major firms expect export conditions to
continue deteriorating in the second quarter of this year, but are less
pessimistic than in the previous quarter, a survey showed Thursday.
According to the poll by the Korea International Trade Association, its quarterly
export business survey index was at 66.1 for the second quarter, up from 33.4 in
the first quarter.
Although the index remained below 100, which means the number of companies
forecasting improvement in exports beat those expecting deterioration, it rose
from the first quarter as makers of cars and semiconductors predicted their
exports would improve in the coming quarter, the association said.
The second-quarter index for chips and electronics parts was at 91.7, compared
with 29 in the first quarter. The index for auto and auto parts was 59.1, up from
18.6.
South Korea's export-dependent economy is projected to contract 2.2 percent this
year, which would be the first annual shrinkage since 1998.
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