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Industrial output down 0.7% on-month in June

South Korea's industrial output edged down 0.7 percent in June from a month earlier due to decreased production in the service sector, government data showed Wednesday.

The data compiled by Statistics Korea showed the production in the service sector declined 1 percent in June from a month earlier, while the output of semiconductors rose 4.6 percent on-month.

From a year earlier, industrial output fell 1.1 percent.


Retail sales fell 1.6 percent in June from a month earlier due to decreased sales of passenger cars and clothing, but retail numbers gained 1.2 percent on-year last month.

Facility investment rose 0.4 percent last month from May due to increased imports of semiconductor manufacturing equipment and vessels.

South Korean companies imported semiconductor manufacturing equipment worth $39.8 million in June, up from $34.2 million in May. But the June figure marked a decline from $59 million in June 2018.

Semiconductors are a key export product for South Korea, home to Samsung Electronics, the world's largest memory chip maker, and its smaller rival SK hynix. (Yonhap)