S. Korea's manufacturing labor productivity up in Q2

By Lee Joon-seung
SEOUL, Oct. 7 (Yonhap) -- South Korea's labor productivity in manufacturing moved up in the second quarter, fueled by solid gains in the information technology (IT) sector and exports, a government report said Tuesday.

The country's manufacturing productivity gained 7.6 percent in the April-June
period after pulling off 8.5 percent growth in the first quarter, the report by
the Ministry of Knowledge Economy said.
According to the findings, labor productivity in the IT sector grew 18.5 percent,
while export gains jumped 12.5 percent. Both helped to offset weak consumer
spending, which edged up 2.3 percent, and facility investments, which were up 0.7
percent.
Large conglomerates and heavy industry also outperformed small and medium
enterprises (SMEs) and light industry.
The productivity gains of large companies were up 10.0 percent, compared with 1.9
percent for SMEs. The annual labor productivity gain in heavy industry reached
9.3 percent, compared to a 3.2 percent growth for light industry.
Among the strong performers were electronic parts, including audio, video and
communications equipment, as well as transportation, chemicals, electrical
machinery and pulp.
Industries that posted negative labor productivity growth were computers,
textiles, leather, and wood.
yonngong@yna.co.kr
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