SEOUL : South Korea's economy contracted 0.4 per cent in the fourth quarter from a quarter earlier, revised central bank data showed on Tuesday, matching its advance estimate released in January.The contraction followed 0.3 per cent growth in the third quarter and marked the first quarterly fall since the
SEOUL : South Korea's economy contracted 0.4 per cent in the fourth quarter from a quarter earlier, revised central bank data showed on Tuesday, matching its advance estimate released in January.
The contraction followed 0.3 per cent growth in the third quarter and marked the first quarterly fall since the second quarter of 2020. By expenditure, private consumption fell 0.6 per cent, but facilities and construction investments rose 2.7 per cent and 0.8 per cent, respectively. Exports dropped 4.6 per cent, while imports declined 3.7 per cent.
The country's gross domestic product grew 1.3 per cent in the October-December quarter from the same period a year before, revised down from 1.4 per cent estimated earlier. The full 2022 GDP growth was unchanged at 2.6 per cent.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
North Korea says UN should demand end to South Korea-US military drillsSEOUL: North Korea's foreign ministry on Sunday (Mar 5) called on the United Nations to demand an immediate halt to combined military drills by the United States and South Korea, saying they were raising tensions that threaten to spiral out of control. The drills and rhetoric from the allies are 'irrespons
Read more »
South Korea announces plan to compensate victims of Japan wartime forced labourSEOUL — South Korea said on Monday (March 6) that its companies would compensate people forced to work under Japan's 1910-1945 occupation of Korea, in a bid to improve poor relations that have impeded trade and co-operation between the two countries. The proposal was welcomed in Tokyo but faced immediate backlash from some victims and South Korea's main opposition party,...
Read more »
Woman stabs passengers on South Korea train after being called ‘ajumma’While “ajumma” casually refers to a middle-aged woman, it has grown to have negative connotations. Read more at straitstimes.com.
Read more »
As South Korea’s school enrolments shrink, country woos foreign students including SingaporeansA total of 1,300 post-grad scholarships are available this year, including 31 set aside for Singaporeans. Read more at straitstimes.com.
Read more »
South Korea, Japan near landmark deal on wartime labour disputeDisputes over women forced into Japanese military brothels have bedevilled ties between the two countries. Read more at straitstimes.com.
Read more »