S. Korea's industrial power sales edge up 0.8 pct in July

By Lee Joon-seung
SEOUL, Aug. 17 (Yonhap) -- South Korea's industrial power sales edged up 0.8
percent on-year in July thanks to increased demand from the oil refining and
shipbuilding sectors, the government said Monday.
The Ministry of Knowledge Economy said a rise in demand by energy intensive
industries contributed to increased power consumption last month.
Power sales to oil refineries and ship yards in July gained 5.5 percent and 6.7
percent, respectively, while those to semiconductor and machinery manufacturers
rose 3.5 percent and 1.3 percent on-year.
Despite overall positive growth, power sales to chemical factories, paper mills,
textile and automobile companies and steel mills all declined as the global
economic slump affected business investments and consumer demand across the
board, the ministry said.
Sales of industrial power covers both manufacturing and mining businesses, and
accounts for 55.1 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 1.3 percent annually in July as
households, stores, educational institutions and farms used more electricity.
The ministry, meanwhile, said for the first six months of this year, industrial
electricity output remained unchanged from the year before at 226,696 megawatt
hour.
yonngong@yna.co.kr
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