Air-Conditioner Imports in Korea Up in July Aug 5, 2004

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The number of air-conditioners imported into the country shot up 21 percent year-on-year in July to U.S.$9.54 million, the Korean government said.

The jump comes as domestic production is unable to meet demand caused by this summer's hot weather, the Korea Customs Service said.

A heat wave, the worst in a decade with temperatures that remain as high as 25-degrees Celsius at night, is causing people to rush to buy air-conditioners. Most stores that sell air-conditioners have reported they have sold out and are awaiting new shipments.

During the month, imports of fans were rose 10 percent from a year earlier to $24 million, the customs service also said.

"Imported air conditioners account for less than 1 percent of the market, but the unexpected heat wave has created a disruption in supply and demand, causing merchants to bring them into the country," a government official said. (Yonhap)

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