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In the first half of 2010, South Korean machine tool orders increased sharply by 117.13% year-on-year
According to the latest statistics released by the Korea Machine Tool Industry Association (KOMMA), in the first half of 2010, the total value of machine tools produced in South Korea reached 1.076 billion US dollars, an increase of 55.14% over the same period of the previous year; machine tool orders reached 1.494 billion US dollars, an increase of 117.13% over the same period last year. In terms of import and export, the value of imported machine tools in South Korea in the first six months was 633 million US dollars, a year-on-year increase of 27.36%; the machine tool export value was 724 million US dollars, a year-on-year increase of 21.89%. Among them, in June, the output value of Korean machine tools was 208 million US dollars, an increase of 6.66% month-on-month and a year-on-year increase of 99.92%; new orders were 253 million US dollars, a month-on-month decrease of 21.25%, a year-on-year increase of 137.78%. This month, South Korea imported 117 million US dollars of machine tools, a month-on-month increase of 22.59% and a year-on-year increase of 9.35%; exports were 160 million US dollars, a month-on-month increase of 8.5%, a substantial increase of 90.48% year-on-year. KOMMA said that due to the relatively slow economic recovery in Europe and the United States, South Korea's machine tool exports have not fully recovered, which is slower than the recovery rate of its domestic demand.