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In the first quarter, the output value of Korean machine tools increased by 39.46% year-on-year
According to the latest statistics provided by the Korea Machine Tool Industry Association (KOMMA) to Adsale Machinery and Metalworking Network, from January to March 2010, the cumulative production value of machine tools in South Korea was 594.218 billion won, a year-on-year increase of 39.46%. Among them, in March, the output value of Korean machine tools was 225.151 billion won, a month-on-month increase of 28.21% and a substantial increase of 50% over the same period last year. KOMMA pointed out that in March, South Korea's new machine tool orders were 299.708 billion won, a month-on-month increase of 37.79% and a year-on-year increase of 138.81%. In the first quarter of 2010, South Korea's cumulative machine tool orders reached 725.944 billion won, a year-on-year increase of 78.98%. In terms of import and export trade, from January to March 2010, the accumulated value of imported machine tools in South Korea was 311 million US dollars, a year-on-year increase of 32.34%; the cumulative export value of machine tools was 289 million US dollars, a year-on-year decrease of 5.56%. KOMMA analyzed that at present, affected by the slow economic recovery in Europe and the United States, the export of Korean machine tools has not yet fully recovered, which is slower than the recovery rate of its domestic demand.