South Korea Chip Output Jumps in Sign of Returning Global Demand

South Korea’s semiconductor industry recorded the largest gains in years in both production and shipments, underscoring a revival of technology momentum that bodes well for the nation’s economic outlook next year and for the global tech sector.

Chip production jumped 42% in November from a year earlier, the most since early 2017, while shipments soared 80%, the biggest gain since late 2002, according to data released Thursday from the national statistical office. Inventoriesexpanded by 36% in the smallest rise since February.

The numbers suggest South Korea’s most important industry is roaring back from a slump that weighed on ...