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On Tuesday, November 28, in South Korea, in South Korea, commercial and residential buildings, which were seen from the roof of the World Corporation Lotte Corp. In the west in Seoul, South Korea.
Bloomberg | Bloomberg | Gets the image
GDP South Korea According to predetermined figures, by 0.1% compared to the year, noting the first reduction in its economy from the fourth quarter of 2020.
GDP has missed a 0.1% growth, which is expected to be a Reuters survey, and is a reversal compared to an increase in 1.2% in the last quarter of 2024.
Korean Bank showed that the fall was mainly due to the fall in construction, and the sector decreased by 12.4% a year.
GDP quarterly decreased by 0.2%, changing from 0.1% profits in the last quarter of 2024.
In his statement of monetary policy on April 17, the Bank had Korean warned that GDP GDP South Korea It is expected that 2025 will fall below its February 1.5%. At the April meeting, the Central Bank had 2.75%.
The side noted that domestic economic growth was weaker than expected, as domestic demand and exports slowed down from long political uncertainty and worsening conditions of trade.
Note on April 17, Jeff NG, head of the Macro -strategy of Asia in the Sumitomo Mitsui Banking Corporation, expected slowing, adding that there may be more cuts in the coming months. “
The first quarter of South Korea was marked by political uncertainty when the trials of the impeachment of former President Jonah Suka Joola and Prime Minister Khan Dak-Su were drawn.
The Constitutional Court beat Hana’s impeachment in March and resumed it as a acting president earlier Removal Yoon from office On April 4, South Korea will go to the elections on June 3 to select a new president.
The economy in the country managed by exports was also impressed by the shock of the trade war. While US President Donald Trump has temporarily suspended his blanket “mutual tariffs” on April 9, South Korea is still subject to 25% of the fare for steel and cars that are one of the largest exports to the US in the US
Hyundai and Kia South Korea are some of the The eight best brands sold In the US country too The fourth largest exporter has become in the US
GDP release also comes when the South Korean team goes to the US for trade negotiations while acting President Khan reported by saying that he expects the negotiations with the US to pave the way to the mutually beneficial result.
Ministry of Commerce, Industry and South Korea’s Economics said on Thursday’s agenda The meeting with the United States is coordinated and not yet finalized.
This penetrates the news, please check the updates.
