A slight increase in industrial output in South Korea in May

Industrial output in South Korea increased by 1.3 percent in May compared to the previous month, as a result of increased retail sales and investments in utilities, according to data from the Korean Development Institute.

The data showed that the Korean economy has surpassed its recent lows against the backdrop of a recovery in the manufacturing sector.
She also noted that the manufacturing industry is showing signs of an improvement in deflation.

On the other hand, exports of semiconductors, South Korea’s main export component, fell by 28 percent year-on-year in June, amid falling demand and falling chip prices.

South Korea’s production in the mining, manufacturing, gas and electricity industries rose 3.2 percent month-on-month in May, following strong performances in the automotive and chip sectors, which recorded growth of 8.7 percent and 4.4 percent, respectively.

South Korea’s exports fell for the 9th consecutive month in June, mainly due to weak demand for semiconductors, but the country recorded its first trade surplus in 16 months, according to the Ministry of industry.
The value of exports fell by 6 percent year-on-year to 54.24 billion dollars last month, according to data from the Ministry of Trade, Industry and energy.