S. Korean gov't raises worry about export reduction

Source: Xinhua| 2019-02-15 14:41:46|Editor: Shi Yinglun
Video PlayerClose

SEOUL, Feb. 15 (Xinhua) -- South Korea's government raised worry about export as the country's outbound shipment reduced for two months in a row amid the low semiconductor export.

The Ministry of Economy and Finance said in its monthly economic assessment report, called Greenbook, on Friday that both investment and export showed a correction, raising its worry about export which accounts for about half of the export-driven economy.

The country's export declined 5.8 percent in January from a year earlier, after sliding 1.3 percent in the prior month due mainly to weak demand for semiconductor.

Chip export tumbled 23.3 percent in January, after retreating 8.3 percent in December last year.

Facility investment shrank 0.4 percent in December from a month earlier, keeping a downward trend for the second consecutive month.

Production in all industries continued to fall for two months through December by dipping 0.6 percent in the final month of last year.

The number of those unemployed reached 1,224,000 in January, posting the highest January figure in 19 years.

Retail sales, which reflect private consumption, kept rising for three straight months to January, while the consumer confidence index rose 0.6 points over the month to 97.5 in January.