According to figures released by Statistics Korea on Thursday, service output rose on-year in 14 cities and provinces in the second quarter of 2023, with the financial and transportation industries leading the way. On a national level, service output increased by 2.8 percent compared to the same period the year before.
Incheon, located in close proximity to Seoul, saw the biggest growth of 7.6 percent, while the capital city itself posted a 6.6 percent increase. Sejong in the center of the country experienced a decline of 1.4 percent, and service output on Jeju Island dropped 1.7 percent.
Retail sales, which serve as an indication of private spending, rose in eight areas and fell in nine. Nationwide, the figure decreased by 0.3 percent. Daejeon, located 139 kilometers south of Seoul, posted the most significant growth with 5.4 percent, followed by Busan in the southeast with 4.6 percent.
A shopper purchases groceries at a supermarket in southern Seoul on Aug. 9, 2023. (Yonhap)