South Korea's factory activity expanded at the fastest pace in three months in December, according to a private survey released on Monday. The IHS Markit purchasing managers' index rose to 51.9 in December, marking a 15-month run above the 50 benchmark that indicates expansion in activity. New orders, the largest weighted item in the index, saw faster growth thanks to improved demand in the domestic market. Output continued to shrink on supply chain constraints, with firms facing semiconductor chip shortages and weak demand, but at the slowest pace in three months.