S Korea chip output falls most since financial crisisBloombergSouth Korea’s semiconductor production last month fell by the highest rate since the global financial crisis, weighing on the nation’s industrial output and pointing to a further cooling of overseas demand for tech components as the world economy slows. Chip production shrank for a fourth straight month, falling 15 percent from a year earlier in the largest drop since 2009, data released yesterday by Statistics Korea showed. South Korea’s growth is already under pressure from falling exports and rising interest rates at home, with the gloomy outlook overseas adding to concerns. The cloudy outlook gives the Bank of Korea more reasons to be cautious as it mulls the end of its tightening cycle. The double-digit increases in inventories since October underscores a global oversupply of memory chips, a sector in which South Korea leads production.

Source: Taipei Times December 30, 2022 02:02 UTC