South Korea's manufacturing start-up rate reached 84.8% in July

According to data released by the Korea Statistics Office on the 31st, the average operating rate of Korean manufacturing in July reached 84.8%, which was a 0.9% increase from the previous month. This is the highest level since the relevant statistics began in the 1980s.

Data show that South Korea’s industrial production in July increased by 15.5% year-on-year and 1.1% month-on-month. In addition, the output value of the service industry increased by 3.4% year-on-year, and retail sales increased by 8.6% year-on-year.

In addition, due to the record high manufacturing start-up rate in July, Korean companies’ investment in production facilities also increased significantly, with equipment investment increasing by 33.5%.

According to the person in charge of the Ministry of Planning and Finance of South Korea, South Korea’s industrial production has exceeded the level before the economic crisis, trade conditions are good, domestic demand continues to expand, and South Korea’s recovery of the real economy is also relatively good. The overall economy of South Korea has entered a normal track.