S. Korean Manufacturer Confidence Rebounds After Election

Dec. 27 (Bloomberg) -- South Korean manufacturers’ confidence rebounded from the lowest level in more than three years following the nation’s presidential election.

An index measuring expectations for January increased to 70 from 67 for December, the Bank of Korea said in a statement in Seoul today. A reading below 100 indicates that pessimists outnumber optimists.

The ruling New Frontier Party’s Park Geun Hye won the Dec. 19 election to replace Lee Myung Bak, whose five-year term ends in February.

A measure of expectations at non-manufacturing companies also increased to 68 from 65, today’s report showed. The survey was conducted between Dec. 12 and Dec. 20 with responses from 1,453 manufacturers and 1,048 non-manufacturers.

To contact the reporter on this story: Cynthia Kim in Seoul at ckim170@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net