SEOUL : South Korea's factory production fell more than expected in June, official data showed on Friday, as automobile and petroleum production dropped. The industrial output index fell 1.0 per cent in June on a seasonally adjusted monthly basis, after a 3.0 per cent jump in May, according to Statistics
SEOUL : South Korea's factory production fell more than expected in June, official data showed on Friday, as automobile and petroleum production dropped.
The industrial output index fell 1.0 per cent in June on a seasonally adjusted monthly basis, after a 3.0 per cent jump in May, according to Statistics Korea. It was faster than the 0.3 per cent fall tipped in a Reuters survey and marked the fastest loss in four months. Production of semiconductors rose 3.6 per cent over the month, but automobiles declined 12.9 per cent and oil refining dropped 14.6 per cent.
The index fell 5.6 per cent over a year earlier, which was milder than the 7.6 per cent drop the previous month, while economists had expected a 5.5 per cent fall.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan to meet North Korea, South Korea face China in World Cup qualifyingJapan were drawn to face North Korea and Syria in Asia's preliminaries for the 2026 World Cup on Thursday, while South Korea will face China and Thailand when the second round of the continent's qualifiers kick off in November.The Japanese will also take on the winners of a playoff between Myanmar and Mac
Read more »
South Korea to ease loan curbs for some homeowners paying 'jeonse' depositsSEOUL : South Korea will loosen loan regulations for homeowners having difficulty repaying 'jeonse' deposits to tenants, for a year starting on Thursday, the financial regulator said.Jeonse refers to South Korea's unique house renting scheme in which tenants put up a deposit typically worth as much as 70
Read more »
China investigating reports of hundreds of suspicious parcels sent to South KoreaSEOUL — Beijing is investigating South Korean reports of international parcels being sent randomly from China, some of which may have contained unknown hazardous materials.
Read more »
South Korea export downturn seen worsening on weak China demand: Reuters pollSEOUL : South Korea's export decline likely accelerated in July amid persistently weak demand from China, a Reuters survey showed on Thursday, signalling a bumpy road towards recovery. Outbound shipments were expected to extend their run of year-on-year losses to a 10th straight month with a 14.5 per cent
Read more »
South Korea proposes tax cuts to stimulate corporate investment, childbirthSEOUL : South Korea on Thursday proposed tax cuts to encourage companies to shift operations back home and nurture the biopharmaceutical and visual entertainment industries, to stimulate domestic growth and reduce reliance on traditional manufacturing sectors.The country with the world's lowest birth rate
Read more »
India asking for renegotiation of FTAs with Japan, South Korea: Trade ministerNEW DELHI: India has asked Japan and South Korea to renegotiate their free-trade agreements (FTAs) with the South Asian nation to make it 'more balanced and equitable', India's trade minister said on Thursday (Jul 27), amid a widening trade gap with the countries. “Japan and Korea - we opened our markets
Read more »