Ser­vice out­put down in re­struc­tur­ing-hit re­gion

The Korea Times - - FINANCE -

The Korean in­dus­trial city of Ul­san suf­fered a set­back in ser­vice out­put in the third quar­ter from a year ear­lier due to poor per­for­mance in the petro­chem­i­cal in­dus­try, data showed Fri­day.

Ser­vice out­put in Ul­san — home to a ma­jor petro­chem­i­cal com­plex, ship­builder Hyundai Heavy In­dus­tries and Hyundai Mo­tor — edged down 0.1 per­cent in the July-Septem­ber pe­riod from a year ear­lier. It marked the third straight quar­ter that ser­vice out­put has fallen in Ul­san.

Yang Dong-hee, di­rec­tor of the short-term ser­vice di­vi­sion at Sta­tis­tics Korea, said a dwin­dling pop­u­la­tion and a de­cline in out­put in the petro­chem­i­cal in­dus­try in Ul­san were to blame for the de­creased ser­vice out­put there.

Mean­while, out­put of ves­sels and cars in Ul­san rose 25 per­cent and 3.3 per­cent in the third quar­ter from a year ear­lier, re­spec­tively.

Re­tail sales in Ul­san edged up 0.2 per­cent in the third quar­ter from a year ear­lier due to in­creased sales of cars and con­sump­tion of gaso­line.

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