Illustration of declining South Korean industrial output with factory scene and graphs, related to Middle East tensions.
Illustration of declining South Korean industrial output with factory scene and graphs, related to Middle East tensions.
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South korea's industrial output falls in april amid middle east tensions

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Statistics Korea reported on May 29 that industrial output fell 0.6 percent in April from March, with retail sales and facility investment also dropping 3.6 percent each.

Mining and manufacturing output dropped 0.7 percent, hit by a 10 percent decline in automobiles, while chip production rose 3.1 percent. Oil refining plunged 19.4 percent.

Finance Minister Koo Yun-cheol said industrial output is expected to return to an upward trend in May as consumer and business sentiment recover and exports remain strong.

The government pledged to ease energy cost burdens and support domestic consumption amid ongoing Middle East uncertainties.

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Illustration depicting South Korea's rising industrial output, retail sales, and facility investment in March, with factories, shoppers, construction, and upward charts.
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South Korea's industrial output, retail sales and facility investment rise in March

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South Korea's industrial output, retail sales and facility investment all rose from a month earlier in March, official data showed on April 30. It marked the first time since September that all three indicators posted on-month growth. A ministry official said the Middle East crisis has not yet impacted the economy.

South Korea's industrial output fell 0.3 percent in May from April, mainly due to adjustments in chip production and supply disruptions, data released Tuesday showed.

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South Korea lost 40,000 jobs in May from a year earlier, marking the first decline in 17 months amid the impact of the prolonged Middle East conflict on the manufacturing sector.

South Korea added 63,000 jobs in June from a year earlier, marking the first rebound in two months. Manufacturing sector jobs continued to decline.

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South Korea's exports exceeded $85.89 billion in April, topping $80 billion for the second consecutive month. The figure jumped 48 percent from a year earlier, driven by robust semiconductor shipments. The trade surplus reached $23.77 billion, marking the second straight month above $20 billion.

South Korea's exports in June surpassed $100 billion for the first time ever, rising 70.9 percent from a year earlier to $102.25 billion thanks to record semiconductor shipments.

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Statistics Korea data showed consumer prices rose 3.2 percent in June from a year earlier, the sharpest increase since December 2023.

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