June Gwangju Metropolitan City Real Economy Production and Exports Up, Investment and Consumption Down

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] In June, manufacturing production and exports in Gwangju Metropolitan City increased, while investment and consumption decreased.

The Gwangju-Jeonnam branch of the Bank of Korea announced the 'Gwangju-Jeonnam Region Real Economy Trends' on the 10th.

According to the report, manufacturing production rose 18.4% year-on-year, driven by strong performances in electrical equipment (65.8%), electronic components (27.8%), and automobiles (21.9%).

Exports jumped 25.2% year-on-year, centered on electronics and electrical equipment (30.6%) and automobiles (12.7%). Imports also increased by 32.4%, led by electronics and electrical equipment (33.2%).

However, the construction investment indicators showed a gloomy outlook.

New construction starts, mainly in residential and commercial sectors, were sluggish, with building start area and building permit area decreasing by 71.1% and 15.8%, respectively, compared to the same month last year.

Sales at large retail stores contracted by 0.3% compared to the same month last year.

Department store sales continued to increase from 1.3% in May to 3% in June, but large discount stores turned from a 0.8% increase to a 4.2% decrease over the same period.

New passenger car registrations also fell by 32.3% to 3,243 units.

This content was produced with the assistance of AI translation services.