Companies, workers shrink in 2008 amid global slowdown

SEOUL, Oct. 21 (Yonhap) -- The number of companies and employees in South Korea's mining and manufacturing industries declined in 2008, a result of the global financial crisis and worldwide economic recession, a report showed Wednesday.

According to the preliminary report compiled by the National Statistical Office,
companies in the mining and manufacturing sectors that employ 10 workers or more
totaled 58,939 last year, down 5.2 percent from a year earlier.
The number of employed workers also decreased 1.8 percent over the same period to
2.47 million last year, the report showed. This marked the first contraction in
employment since 2001.
The fall in mining and manufacturing companies and their combined employed
workers was attributed to the financial crisis that resulted in a worldwide
economic recession last year. The decline was particularly evident in the
clothing, fur, furniture, tobacco and timber sectors, the report showed.
kokobj@yna.co.kr
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