Korea’s major industries are projected to contract in the second half of this year, a report showed Wednesday.

According to the state-invested Korea Development Bank, the amount of orders that local shipbuilders receive will plummet by 88.2 percent in the second half of this year. In the first half, they fell by 94.6 percent on-year.

The bank also forecast that construction firms’ orders will shrink by 7.4 percent this year, with a decline both locally and overseas.

The display industry is also anticipated to show drop in production by 5.3 percent due to the panel price drop, as well as the car industry by 4.5 percent. The production of semiconductors will also likely fall by 3.8 percent.