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SEOUL - South Korea's factory activity expanded in May at the fastest pace in two years on stronger growth in output and orders thanks to broadening global demand, a private-sector survey showed on Monday.
Output jumped at the quickest rate since July 2021, while new orders increased by the most since February 2022 thanks to new product launches, stronger export sales and greater domestic client appetite, according to the survey. South Korea's exports have been growing since October and provided the biggest boost to the trade-reliant economy's first quarter growth, which was the fastest in more than two years.
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