South Korea's industrial output plunged 14.1 percent in November from a year earlier, dropping at the fastest pace in history amid growing concerns over worsening economic conditions, a government report showed today.

According to the report by the National Statistical Office (NSO), industrial production further shrunk from a 2.3 percent decline in October, marking the sharpest fall since related data started to be compiled in January 1970.

Worse-than-expected output figures come as South Korea's economy is showing signs of a marked slowdown.

South Korean economy grew 0.5 percent in the third quarter from the previous three months, the slowest pace in four years, the data by the central bank showed.