SEOUL, Sept. 27 (Yonhap) -- Business sentiment in South Korea has shown improvement for the fourth quarter of 2023, driven by strong exports in the semiconductor and cosmetics sectors, according to a survey released on Sunday.
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The business survey index (BSI) for 2,413 manufacturing companies across the country increased to 86 for the October-December period, marking a rise of 6 points from the previous quarter, as reported by the Korea Chamber of Commerce and Industry (KCCI).
A BSI reading below 100 indicates that pessimistic views outweigh optimistic ones, while a reading above the benchmark reflects the opposite trend.
The index for the semiconductor sector reached 139 for Q4, the highest since the survey began, remaining above the benchmark for the fourth consecutive quarter. The cosmetics sector index also showed strength, climbing 20 points to reach 120, while the index for medical and precision equipment increased by 28 points to 108.
Despite the positive shifts in sentiment, 60.4 percent of companies surveyed expect their operating profits this year to fall below initial targets, largely due to increased production costs resulting from high raw material and energy prices.