Seoul: South Korea's industrial production increased by 5.8 percent in the third quarter compared to the previous year, driven by the strong performance of the semiconductor, automobile, and electronics sectors, government data revealed.

According to Yonhap News Agency, the semiconductor and electronics sector saw a substantial on-year growth of 16.5 percent in the July-September period, while the automobile industry recorded a 7.5 percent increase. This growth was notably concentrated in regions like North Chungcheong and Gyeonggi provinces, which reported industrial production growth of 19.1 percent and 15.9 percent, respectively, owing to the presence of numerous chip and electronics manufacturing facilities.

In contrast, industrial outputs in Seoul, South Jeolla Province, and the southern island of Jeju experienced declines. Retail sales across the nation increased by 1.5 percent on-year in the third quarter, bolstered by government cash handouts aimed at stimulating private consumption. Sejong, Incheon, and Daegu witnessed retail sales growth of 8.8 percent, 5.5 percent, and 5.3 percent, respectively, while Seoul and Jeju encountered contractions of 2.7 percent and 1.3 percent.

Service output also expanded by 3.1 percent nationwide, with notable growth recorded in Seoul at 6.1 percent, followed by Ulsan at 5.3 percent, and Gyeonggi Province at 4.9 percent. Additionally, exports increased by 6.5 percent on-year in the third quarter, primarily driven by strong performances in semiconductors, ships, and automobiles.