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S. Korea's industrial electricity sales rise 2 pct in Aug. on growing exports

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(Globalpost/GlobalPost)

SEJONG, Sept. 25 (Yonhap) -- Use of electricity by South Korea's industrial sector grew from a year earlier last month on growing exports, the government said Wednesday.

According to the Ministry of Trade, Industry and Energy, sales of industrial electricity reached 21.82 billion kilowatt-hours in August, up 2 percent from the same month last year.

Industrial electricity sales serve as a barometer of industrial activities as companies use more electricity when business is lucrative and cut back when demand is low.

The ministry attributed the increase in electricity consumption by the industrial sector to a large growth in exports last month, especially by the manufacturing industry.

The country's overall exports gained 7.7 percent on-year in August while outbound shipments by the machinery and automobile industries rose 8.3 percent and 6.4 percent, respectively, the ministry said in a press release.

Overall sales of electricity grew 1.9 percent on-year to 40.65 billion kilowatt-hours as the use of electricity by households dropped 1.9 percent in August, according to the ministry.

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