S. Korea`s industrial power sales gain 1.1 pct in June

By Lee Joon-seung
SEOUL, July 14 (Yonhap) -- South Korea's industrial power sales moved up 1.1
percent on-year in June thanks to increased demand from the oil refining and
semiconductor sectors, the government said Tuesday.
The Ministry of Knowledge Economy said a rise in demand by energy intensive
industries, more working days and slight improvements in exports contributed to
increased power consumption.
Power sales to oil refineries and semiconductor companies last month gained 10.3
percent and 3.1 percent, respectively, while those sent to ship yards moved up
8.8 percent.
There were also 1.5 more working days compared to June 2008, with exports
contracting 11.3 percent annually from a plunge of 28.5 percent tallied for May.
Sales of industrial power covers both manufacturing and mining businesses, and
accounts for 55.4 percent of all domestic electricity sales provided by Korea
Electric Power Corp. It is a barometer of industrial health since companies use
more electricity when the economy is doing well while they cut back to cope with
fall offs in orders.
Overall, South Korea's power sales gained 2.4 percent on-year in June mainly due
to more demand for electricity by households, stores, educational institutions
and at farms.
In the first six months of this year, industrial electricity output declined 0.3
percent annually, the ministry said.
yonngong@yna.co.kr
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