South Korean manufacturers' business sentiment for the first quarter significantly worsened.

According to the Korea Institute for Industrial Economics and Trade on Sunday, its survey of about 560 local manufacturers showed their business survey index came to 83 for the January-March period, down nine points from the previous quarter. The manufacturers' outlook for sales also plunged by ten points to 85.

The two figures posted far below the benchmark 100 and slipped for the third consecutive quarter. A reading below 100 means pessimists outnumber optimists.

In particular, the BSI for the semiconductor industry plummeted by 21 points to post 90.