The business survey index (BSI) in all industries fell 1 point over the month to 69 in January, marking the lowest in 11 months since February last year, according to the Bank of Korea (BOK).
It came as economic uncertainties lingered such as the faltering housing market, caused by high interest rates.
The BSI among non-manufacturers, including construction companies, declined 3 points from a month earlier to 67 in January, while the index for manufacturers added 1 point to 71.
The index below 100 indicates pessimists outnumbering optimists. It was based on a survey of 1,851 manufacturers and 1,498 non-manufacturers conducted between Jan. 9 and 16.
Manufacturers selected economic uncertainty, sluggish domestic demand and higher labor costs as key barriers to doing business, while non-manufacturers picked uncertain economic situations, domestic demand slump and higher labor costs.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 91.5 in January, up 0.1 point from the previous month.
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