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Seoul’s industrial output dips, but service sector stays strong
short by / on Tuesday, 13 May, 2025
Industrial output and retail sales in Seoul declined from a year earlier in the first quarter of this year, while the city's service sector remained relatively strong despite the broader economic slowdown, government data showed on Tuesday. Seoul's industrial output fell 2.1% YoY in Jan-Mar, driven by declines in electricity, gas, food manufacturing, and machinery, as per Statistics Korea.