South Korea May factory output unexpectedly declines on auto chip shortages Toggle share menu Advertisement South Korea May factory output unexpectedly declines on auto chip shortages 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. FILE PHOTO: Workers walk past a construction site in Seoul, South Korea, October 2, 2018. REUTERS/Kim Hong-Ji 30 Jun 2021 09:10AM Share this content Bookmark 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 0.7per cent last month, Statistics Korea data showed on Wednesday, missing a 0.8per cent gain forecast in a Reuters survey. It followed a 1.6per cent contraction in April, when it marked the biggest contraction since may 2020.