S. Korea industrial production fell -4.3% YoY versus expected -1.6%

Month on Month -2.5% vs -0.4% expected

The South Korean industrial production fell -2.5% and March versus -0.4% expected. The

year was also much worse than expected at -4.3% versus -1.6%.

• The miss was the 5th in the last 6 months
• The IP is the lowest level since 2013

Not a good number.

Of course, the focus in the region is on the geopolitical turn of events with N. Korea.

On Friday, N. Korea's Kim Jong Un and S. Koreas Moon Jae-in agreed to end the seven decade long Korean War. S. Korea said today that N. Korea has also promised to close its nuclear test site next month, and that they would invite foreign inspectors to verify the closure.

It is early, but there is hope for peace. Trump is scheduled to visit N. Korea in the next couple of weeks.