Business

South Korea's factories busier in February, numbers show

Hyundai Motor's sedans are assembled at a factory of the carmaker in Asan, about 100 km (62 miles) south of Seoul, in this January 22, 2013 Image copyright Reuters
Image caption South Korea's export-led economy has been hit by slowing global demand for its goods

South Korea's industrial activity rebounded in February, supported by the chemicals and chip making businesses.

Official numbers showed industrial production increased by 3.3% from a month earlier, marking the the biggest monthly increase since late 2014.

In January, the export dependent nation saw production fall by 2.1%.

South Korea's economy has been hurt in recent times by softer demand from China, one of its most important trading partners.

However, the latest data beat expectations, which were for a fall in output of 0.2% in February

For all industries, including mining, gas and the electricity sector, output grew 2.4% in February from a year earlier.

Following a raft of disappointing economic data, South Korea's government unveiled new stimulus measures in February designed to help boost exports and domestic demand.

South Korea, which is Asia's fourth largest economy, saw its economy expand by 3.1% in the three months to December compared to a year earlier.

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