Facility investments by major local corporations is expected to increase 0.4 percent next year compared with this year, said the Korea Development Bank on December 12, which surveyed 3,598 local firms in 50 business sectors across the country in October. By industry, facility investments by manufacturing industry are foreseen to drop 2.5 percent next year compared with this year. Investments by such traditional manufacturing sectors as steel, automobiles and petrochemicals are anticipated to increase, while those by IT-related sectors are predicted to decline next year. Overall facility investments by non-IT-related sectors are predicted to grow 1.1 percent next year. Taking a closer look at the investments by segment, steel (up 5.5 percent), automobiles (up 8.7 percent) and petro-refining (up 13.1 percent) are foreseen to increase in 2007, whereas IT industries are anticipated to see a drop of 7.8 percent next year.
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