South Korea Electricity Sales Volume Rises for 14th Month

Electricity sales in South Korea, Asia’s fourth-biggest energy consumer, rose for a 14th month as manufacturers increased production to meet demand for cars, semiconductors and chemicals.

Sales volume jumped 11 percent in May from a year earlier, the Ministry of Knowledge Economy said in an e-mailed statement today.

The nation’s overseas shipments advanced 42 percent last month from a year earlier as a recovery in the global economy spurred demand for South Korean products. Exports of cars rose 63 percent and overseas sales of petrochemicals gained 41 percent, according to government data. Shipments of semiconductors advanced 81 percent.

Industrial use of power increased 13.8 percent while demand from households rose 5.5 percent, according to the ministry. Industrial use accounts for more than half of overall consumption.

To contact the reporter on this story: Shinhye Kang in Seoul at skang24@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net

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