XINHUA – South Korea’s corporate revenue kept growing in the second quarter thanks to solid global demand for locally-made semiconductors, central bank data showed yesterday.
Revenue for 11,651 manufacturers and 11,486 non-manufacturers subject to external audit, excluding financial firms, increased 5.3 per cent in the April-June quarter from a year earlier after growing 1.2 per cent in the previous quarter, according to the Bank of Korea. Sales by manufacturers gained 7.3 per cent in the second quarter, faster than an expansion of 3.3 per cent in the first quarter.
Revenue in the machinery, electrical and electronic sector, including chipmakers, surged 20.7 per cent in the second quarter, with those in the petrochemical and the transport equipment sectors rising in single digits.
