Korea's services industry output suffered its biggest monthly decrease, dropping 4.4 percent in March, according to data by Statistics Korea.
The loss was mainly attributed to social distancing.
Tourism, lodging, and entertainment businesses took the biggest hits due to the guidance meant to prevent the spread of COVID-19.
The 4.4 percent plunge in March was the second monthly decline in a row following a 3.5 percent decrease in February.
The drop in the services sector caused a 0.3 percent decline in overall industrial output, despite production boosts in manufacturing, construction, energy, and public administration.
On a month-on-month basis, entertainment, leisure, and sports had the steepest drop of 31.2 percent, followed by lodgings and restaurants with 17.7 percent, storage and transport with a drop of 9 percent, education with a 6.9 percent dip, and wholesale and retail with 3.3 percent.
On a yearly basis, the decline was worst in the entertainment, leisure, and sports sector, which was nearly halved with a 45.9 percent drop from 2019. Lodgings and restaurants followed with 32.1 percent, trailed by storage and transport with 16.4 percent.


Gold Prices Hold Steady as Iran War and Interest Rate Outlook Weigh on Markets
US Dollar Weakens as Yen Surges Amid Japan Intervention and Central Bank Moves
Oil Prices Fall as Iran Proposes New Deal Amid Ongoing U.S. Tensions
Alphabet Earnings Surge on AI Growth, Cloud Revenue, and Strong Search Performance
AstraZeneca Q1 2026 Earnings Surge on Strong Oncology and Rare Disease Drug Sales
Why Paycom Was Named a 2026 Platinum Employer on the Where You Work Matters List
T-Mobile Beats Q1 Earnings Expectations on Strong Postpaid Growth
Pershing Square Raises $5 Billion in Landmark U.S. IPO and Share Placement
NAB First-Half Earnings Miss Forecasts Amid Rising Global Risks
UAE Exits OAPEC Amid Shift Toward Independent Oil Strategy and Market Uncertainty
Fed’s Goolsbee Warns Inflation Remains Elevated, Signals Caution on Rate Cuts
Standard Chartered Q1 Profit Hits Record on Wealth and Investment Banking Growth
Apple Q2 2026 Earnings Surge as iPhone 17 Sales Drive Record Revenue
US Stock Futures Rise as S&P 500 and Nasdaq Hit Record Highs Amid Earnings Optimism and Iran Tensions
U.S. Cybersecurity Pushes Faster Patch Deadlines Amid Rising AI-Driven Threats
Tokyo Inflation Slows Despite Energy Pressures and BOJ Policy Outlook 



