S. Korea's industrial power sales rise 1.4 pct in Aug.

By Lee Joon-seung
SEOUL, Sept. 14 (Yonhap) -- South Korea's industrial power sales increased 1.4
percent on-year in August thanks to increased demand from the oil refining and
chemical sectors, the government said Monday.

The Ministry of Knowledge Economy said the rise marks the third straight month
that demand has posted positive on-year gains. After contracting 1.4 percent in
May, industrial power sales moved up 1.1 percent in June and 0.8 percent the
following month.
It said more working days and noticeable improvements in output by various
industries helped fuel demand.
Power sales to oil refineries and chemical-related businesses moved up 7.9
percent and 5.2 percent, respectively, compared to the year before, while those
for machinery manufacturers, semiconductor producers, steel mills and ship yards
all posted gains.
Despite overall positive growth, power sales to automakers, paper mills and
textile companies all declined as the global economic slump affected business
investments and consumer demand, the ministry said.
Sales of industrial power covers both manufacturing and mining businesses, and
accounts for 52.6 percent of all domestic electricity sales provided by Korea
Electric Power Corp. It is a barometer of industrial health since companies use
more electricity during years when business is good and cut back to cope with
fall offs in orders.
Overall, South Korea's power sales edged up 0.1 percent in August from the year
before.
Power sales to households, stores, educational institutions and farms declined in
the cited month.
The ministry, meanwhile, said for the first eight months of this year, industrial
electricity output fell 2.1 percent on-year to 134,288 megawatt hour (MWh), with
overall national electricity use remaining unchanged from the same period in 2008
at 259,740 MWh.
yonngong@yna.co.kr
(END)