(ATTN: UPDATES with details in paras 4-10)
By Kang Yoon-seung
On Wednesday, Statistics Korea reported that South Korea’s industrial output had increased 2.2% in August from the previous month, following a 0.8% drop in July.
The rebound was largely due to the strong performance of the chip sector, which rose 13.4%. The mining, manufacturing, gas and electricity industries all posted gains of 5.5%.
September exports of semiconductors, a key export item, dropped for the 14th consecutive month to $9.94 billion, although the month saw the highest export value of the year so far, according to the trade ministry.
Output from electric components declined 3.8% in August, whereas the service sector rose 0.3%, supported by the arts, sports and leisure industries, which advanced 6.2%.
Retail sales decreased 0.3%, due to weak demand for durable goods, such as automobiles, which slipped 1.1%. The demand for semidurable goods, including clothes, also fell 0.6% on-month.
Facility investment, however, jumped 3.6%, driven by the shipbuilding industry (up 13.1%) and the machine sector (up 0.6%).
colin@yna.co.kr
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