Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

South Korea produced 256,000 units in May, down 21pc on a monthly basis due to the shortage of semiconductor chips, Statistics Korea data reported. 


According to media reports, this figure was still an 11-year peak, resulting from a boom in manufacturing after recovering from the COVID-19 pandemic. Industrial production rates rose by a seasonally adjusted 0.7pc. In comparison, the country saw a 1.6pc decline in industrial production in April. A 5.6pc decline in mechanical equipment output a 5.3pc increase in car production in April. 


Statistics revealed that factory production increased by 15.6pc in May from the prior year. Park Choong-hoon, head of research at Standard Chartered Bank Korea, said that he expects the global momentum of auto demand will keep Korea’s exports and production afloat in the months to come. 

Leave a Reply

Your email address will not be published.