Business sentiment among South Korean firms edged down in January, mainly in the manufacturing sector.
The Bank of Korea says its Business Sentiment Index for all industries was 86 points, down a single point from December.
The reading below 100 indicates pessimists outnumber optimists.
The BSI among manufacturing companies is at 90,down 5 points on-month.
It was driven by the rise in the logistics cost and fall in demand in the construction industries.
Sentiment among non-manufacturing businesses edged up one point on-month, mainly on retail and wholesale as the national Seollal holiday is just around the corner.