South Korea Cuts Chip Production Most Since Global Financial Crisis as Demand Cools

South Korean chipmakers reduced their production by the most since 2008 in February, a sign of declining semiconductor demand that may be deeper and longer-lasting than feared.

Production dropped 41.8% from a year earlier, worsening from a 33.9% fall in January, according to data from the national statistics office. Inventories increased by 33.5% and factory shipments fell 41.6%, adding to signs of continued weakness.