S. Korea factory activity rose to 52.0 in June

South Korea’s manufacturing sector is thriving, hitting a 26-month high in June due to a surge in new orders from domestic and international markets.

The manufacturing PMI rose to 52.0 in June, the highest level since April 2022, signalling growth for the second consecutive month above the 50.0 threshold.

Joe Hayes of S&P Global noted that South Korea’s increasing output and orders serve as a strong indicator of global industrial activity and trade trends.

Both domestic and foreign demand drove this growth, with Asian countries like China, Vietnam, and Japan, as well as North America and Europe, contributing to the sales increase.

This supports the finance minister’s statement on South Korea’s export recovery, driven by strong chip demand from the US.

Attribution: Reuters