Q2 manufacturing output down in virus-hit Daegu and adjacent areas

SEOUL, The manufacturing output in the southeastern industrial city of Daegu and adjacent areas, once the epicenter of the new coronavirus outbreak here, fell in the second quarter due to the fallout from the COVID-19 pandemic, a report showed Thursday.
Daegu and the surrounding North Gyeongsang Province saw the production of auto parts, steel, mobile phones and machinery decline in the April-June period from the previous quarter, according to the report released by the Bank of Korea (BOK).
But the central bank did not provide detailed figures.
Daegu and North Gyeongsang Province have been hit hardest by the COVID-19 pandemic. North Gyeongsang Province is home to a smartphone plant of Samsung Electronics and a plant of home appliances giant LG Electronics.
The decline in auto parts came as carmakers suspended their plants and some countries closed their borders and restricted movement in an effort to contain the spread of COVID-19.
The pandemic has also led to a sharp decline in demand for steel and mobile phones, according to the report.
The BOK said it surveyed 451 companies across the country over their conditions related to businesses, employment, investment and cash flow. Among them, 76.4 percent said their production fell in the February-April period from the same period of last year.

Source: Yonhap News Agency

You may also like...

Leave a Reply