South Korea's manufacturing inventory rate in January this year hit a new high since the Asian financial crisis in 1998, and semiconductor inventories were the most obvious.

(Schematic, European News Agency)

[Financial Channel/Comprehensive Report] South Korea's official statistics show that the manufacturing inventory rate (inventory/shipment) in January this year reached 120%, a monthly increase of 2.2 percentage points, a record high since the Asian financial crisis in 1998.

South Korea's JoongAng Ilbo reported that the Korean Statistical Office released the "January 2023 Industrial Activity Trends" on the 2nd, showing that the manufacturing inventory rate climbed to 120% in January this year, setting a new high since the Asian financial crisis in 1998 and higher than May 2020. The inventory rate rose to 115% that month due to the impact of the epidemic on the manufacturing sector.

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Among them, due to the increase in inflation and the economic downturn in semiconductors, the consumption of smartphones, computers, and TVs has decreased. In January, semiconductor inventories increased by 28% month-on-month.

Inventories of communications and broadcasting equipment, and mechanical equipment also rose by 22.6% and 11.3% respectively.

Due to the backlog of inventory, new investment has been postponed. South Korea's equipment investment in January fell by 1.4% month-on-month, following a 6.1% contraction in December last year, showing a downward trend for two consecutive months.

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