South Korea's factory activity expanded in May at the fastest pace in two years, with PMI rising to 51.6.

South Korea's factory activity expanded in May at the fastest pace in two years, with the Purchasing Managers' Index (PMI) for manufacturers rising to 51.6, from 49.4 in April. This growth is attributed to stronger global demand, with output and new orders increasing at the quickest rates since July 2021 and February 2022, respectively. New export orders have also risen for a fifth consecutive month.