The country's manufacturing production saw its largest decline in 18 months in January.

According to Statistics Korea on Sunday, the index for the nation's manufacturing production came to 103-point-seven in January, down four-point-two percent from a year ago.

This marks the sharpest decline in 18 months, dating back to July 2023, when it dropped by six-point-six percent.

The decline was steeper in the industries of automobiles and primary metals, which plunged 14-point-four percent and eleven-point-four percent, respectively.

The government attributed the decline to the reduced number of working days in January caused by the Lunar New Year holiday, as well as the base effect following robust performance in the previous month.