South Korea’s industrial output edged up 0.8 percent in January from a month earlier due in part to increased production of cars and the service sector, government data showed Thursday.
The data compiled by Statistics Korea showed the output of cars rose 3.5 percent in January from a month earlier as vehicle sales at home and abroad increased 4.2 percent and 9.8 percent, respectively, during the same period.
Semiconductor output rose 7.5 percent in January from a year earlier, but its exports fell 13 percent from a month earlier.
Kim Bo-kyoung, director of Statistics Korea’s short-term industry statistics division, said prices of semiconductors fell amid slowing demand for chips from global information and technology companies.
Semiconductors and cars are two of the key exports of Asia’s fourth-largest economy.
From a year earlier, industrial output moved up 0.6 percent.
Production in the service sector rose 0.9 percent on-month in January due in part to increased output in the information and communications sector.
Retail sales gained 0.2 percent in January from a month earlier due to increased sales of food and beverages, as well as cosmetics.
Retail sales rose 4 percent on-year last month.
Facility investment rose 2.2 percent in January from a month earlier due to increased imports of computers and other office machinery. (Yonhap)