Finance Minister Koo Yun-cheol speaks during a meeting with economy-related ministers in Seoul on May 15. [YONHAP]
Korea's industrial output, which tumbled in April compared to a month earlier in the wake of tensions in the Middle East, is likely to rebound in May amid signs of improvement in business sentiment, the finance minister said on Friday.
The remark came after the Ministry of Data and Statistics said earlier in the day that the country's industrial output fell 0.6 percent in April from a month earlier, with retail sales and facility investment losing ground.
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“The April figures underwent a temporary correction due to a base effect following strong performances over the past months,” Finance Minister Koo Yun-cheol said during a meeting with economy-related ministers.
