In the second quarter of the current year, South Korean manufacturers showed improved sentiment compared to the previous quarter according to a Business Survey Index (BSI) published by South Korea's Ministry of Knowledge Economy and the Korea Institute for Industrial Economics and Trade. The index for the second quarter stood at 101, while the corresponding figure for the first quarter was 96.
The BSI is prepared with the reponses given by 500 manufacturers. An index reading above 100 indicates that manufacturers consider current business conditions better than conditions in the previous quarter. The BSI reading for sales and domestic demand were higher than the 100 baseline, while exports and ordinary profits came in at 99 and 91, respectively. The automobile and precision equipment sectors performed better than in the first quarter.
Prospects for business conditions in the third quarter reached 111, meaning optimists outnumbered pessimists. Notably, with an index reading of 162, manufacturing companies had high expectations for the semiconductor sector.