South Korean manufacturers' business sentiment rises on chip exports — Korea Herald

Business sentiment among manufacturers in South Korea improved in the fourth quarter amid strong exports of semiconductors and cosmetics. The business sentiment index among 2,413 manufacturing companies stood at 86 points in October–December, six points higher than in the previous quarter, Korea Herald reports, citing the Korea Chamber of Commerce and Industry.

Second quarterly improvement

The increase in the index marked the second consecutive quarterly improvement in manufacturers' assessments. At the same time, the overall figure remained below the 100-point mark, meaning that companies expecting conditions to worsen outnumbered those forecasting an improvement.

The highest figure was recorded in the semiconductor industry, at 139 points. This is the highest level since the survey began and the fourth consecutive quarter in which the sector's indicator has exceeded 100 points.

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Growth in the cosmetics sector

The index in the cosmetics industry rose by 20 points to 120. In medical and precision equipment manufacturing, the indicator increased by 28 points to 108.

Despite the improved sentiment, 60.4% of manufacturers expect their operating profit this year to be below their initial targets. Companies attribute these expectations to persistently high costs of raw materials and energy.