Article content SEOUL — South Korea’s factory output in May unexpectedly declined from April but registered its fastest annual expansion in nearly 11 years after 2020’s pandemic-induced slide. Industrial production fell by a seasonally adjusted 0.7% last month, Statistics Korea data showed on Wednesday, missing a 0.8% gain forecast in a Reuters survey. It followed a 1.6% contraction in April, when it marked the biggest contraction since may 2020. We apologize, but this video has failed to load. Try refreshing your browser, or S.Korea May factory output unexpectedly declines on auto chip shortages Back to video A breakdown of data showed production of cars shrank 6.6% from April on auto chip shortages, while that of mechanical equipments also slumped 5.6%. That offset a 5.3% rise in production of semiconductors, the country’s top export.