South Korea Surpasses Taiwan in Machine Exports Compared with Taiwans comparatively small yearly growth of 9.

4% in machine exports in the first half, South Korean machine export income attained NT$38.3 billion (US$1.31 billion), soaring 30.4% year on year (YoY), primarily due to decreasing Korean won and South Koreas free trade agreement (FTA) with the United States and the European Union (EU), according to the late statistics collected by Taiwan Association of Machinery Industry (TAMI). South Korean machine income growth generated by America-bound exports skyrocketed 90.7% YoY in the first half, with similar growths to China, India, Vietnam, and Brazil all rising 43.8%, 23.8%, 229.4%, and 44.1%, severally. However, Taiwans machine export income growth to China in the first half went down 14.6% from a year earlier, with similar figures to India and Brazil also falling YoY 16.3% and 31%, severally. Total export incomes of Taiwans machine sector attained US$2.09 billion in the first half, rising 9.4% YoY from last years US$1.91 billion, versus South Koreas NT$38.3 billion (US$1.31 billion), soaring YoY 30.4% from US$1.005 billion last year. With the gaping performance between Taiwan and South Korea, Morris Chang, the founding Chairman of Taiwan Semiconductor Manufacturing Company Ltd. (TSMC), the world`s largest gave independent semiconductor foundry, proposed Taiwans central bank to depreciate the New Taiwan dollar so Taiwan, whose economy is export-driven, can handle fierce menace from South Korea. http://www.machineryfromturkey.com/south-korea-surpasses-taiwan-machineexports/