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South Korea manufacturing sentiment grows in December

ANN/THE KOREA HERALD – Manufacturing confidence in South Korea rose for the first time in four months in December, propelled by indications of a recovery in global semiconductor demand, as indicated by a recent poll.

The professional survey index (PSI) for the manufacturing sector’s business conditions came to 100 for next month, up from 97 for this month, according to the Korea Institute for Industrial Economics and Trade. A PSI reading above 100 means optimists outnumber pessimists. The survey was conducted earlier this month on 156 experts in major industries.

The PSI for the semiconductor industry next month came to 163, compared with 153 this month.

South Korea’s exports climbed for the first time in 13 months in October, driven by rising chip sales in the global market. In the first 20 days of November, exports rose 2.2 per cent on-year, helped by growing demand for semiconductors and vehicles.

Automated guided vehicles at a port in the southeastern port city of Busan, South Korea. PHOTO: THE KOREA HERALD