SEOUL, Mar. 4 (Korea Bizwire) — South Korea’s industrial output inched up in January despite the marked fall in semiconductor production, data showed Monday. Industrial output gained 0.4 percent on-month last month, the third consecutive on-year increase, according to the data compiled by Statistics Korea. But the output in the overall mining manufacturing sector shed [...]
SEOUL, Jan. 16 (Korea Bizwire) — With the recovery of demand remaining sluggish due to the current economic slump, South Korean petrochemical companies are moving heaven and earth to survive through a reduction in output while lowering its factory utilization rate even further. According to industry sources, the naphtha cracking center (NCC) utilization rate of [...]
SEOUL, Dec. 15 (Korea Bizwire) — The South Korean bioindustry’s output surged more than 20 percent in 2021 from a year earlier on the back of brisk exports amid the coronavirus pandemic, data showed Thursday. The industry’s production came to about 21 trillion won (US$16.2 billion) last year, up 22.1 percent from a year earlier, [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s rice output fell 3 percent this year from a year earlier due to a sharp drop in precipitation and lack of sunny days, data showed Tuesday. The country’s rice production came to 3.76 million tons this year, falling from 3.88 million tons tallied in 2021, according to [...]
SEOUL, Sept. 26 (Korea Bizwire) — Despite the government’s decision to fully lift the outdoor mask mandate from Monday, past experience indicates that the change in the government’s mask-wearing policy is unlikely to have a big impact on mask output. According to the Ministry of Food and Drug Safety, the nation’s facial mask output stood [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s rice output rose for the first time in six years due mainly to favorable weather conditions and an increase in the cultivation area, data showed Monday. The country’s rice production reached 3.88 million tons in 2021, up 10.7 percent from a record low of 3.51 million tons [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s electronics industry shrank in 2019 for the first time in 10 years as domestic and overseas demand weakened on a U.S.-China trade war and other negatives, a report showed Thursday. The industry’s output came to 321.9 trillion won (US$272 billion) last year, down 12.5 percent from the [...]
SEOUL, May 20 (Korea Bizwire) — South Korea’s output of medical equipment and related materials passed 7 trillion won (US$5.7 billion) in 2019 on solid demand for dental treatment products, data showed Wednesday. About 7.3 trillion won worth of medical equipment and materials were produced in the country last year, up 11.8 percent from a [...]
SEOUL, Sept. 30 (Korea Bizwire) — Renault Samsung Motors Corp. said Monday it will reduce production at its sole local plant from next month amid lower demand for its vehicles. Renault Samsung plans to lower the units per hour (UPH) volume to 45 from the current 60 starting Oct. 7 as it suffers declining sales [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s two largest carmakers — Hyundai Motor Co. and Kia Motors Corp. — are highly likely to see their combined auto production in China come below 1 million units this year, the lowest in a decade, as they moved out of the world’s largest auto market to India [...]