South Korea's factory activity expanded for the third consecutive month in February, according to a private-sector survey. The purchasing managers index (PMI) for manufacturers in Asia's fourth-largest economy, which stood at 51.1, was the highest since August 2024. This increase was driven by strong chip demand. External demand was particularly strong in the United States and China. Other near-term indicators indicated increased demand, with input purchases rising by the most since July 2021 and post-production inventories rising.