Korea's industrial output inches up in November on strong chip sector

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Korea's industrial output inches up in November on strong chip sector

Published: 28 Dec. 2023, 10:28

KIM JU-YEON
[email protected]

A government official looks around SK hynix's semiconductor factory in Cheongju, North Chungcheong. [NEWS1]

Korea's industrial output increased in November due to strong production in the semiconductor sector.

Industrial production rose 0.5 percent on-month after a 1.8 percent decline logged a month earlier, according to Statistics Korea data released Wednesday.

Compared with a year earlier, industrial output rose 2.5 percent last month.

November's increase came as the production of the semiconductor sector advanced 12.8 percent on-month.

Retail sales, a gauge of private spending, climbed 1 percent on-month in November, following a 0.8 percent decrease the previous month.

The growth was led by rising demand for vehicles, electronics and other durable goods.

Facility investment, however, fell 2.6 percent on-month, the second monthly fall, the data showed.

BY KIM JU-YEON, YONHAP [[email protected]]