1 minute ago by Reuters1 minute ago by Reuters1 minute ago by Reuters1 Read SEOUL, South Korea, June 30 (Reuters) – South Korea’s factory output surprisingly fell in May from April, but grew at the quickest rate in nearly 11 years when compared to 2020’s pandemic-affected estimates, according to government data released on Wednesday. Last month, industrial production fell by 0.7 percent seasonally adjusted, missing a 0.8 percent gain expected in a Reuters poll and following a 1.6 percent contraction in April, the most since May 2020. Factory output, on the other hand, increased by 15.6 percent year over year, the biggest increase since June 2010, as production was expected to rise up quickly from the dismal 2020, when the coronavirus pandemic paralyzed economic activities and supply systems. (Jori Roh contributed reporting, and Christopher Cushing edited the piece.) Continue reading