July 23, 2020

S. Korea reports worst economic performance in more than 20 years

Seoul (AFP) – South Korea’s economy recorded its worst performance in more than 20 years in the second quarter, the central bank said Thursday, as as the coronavirus pandemic hammered its exports.Asia’s fourth-largest economy contracted 2.9 percent year-on-year in the April-June period,  the Bank of Korea said.It was the fastest decline since a 3.8 percent drop in the fourth quarter of 1998, in the aftermath of the Asian financial crisis.Quarter-on-quarter, it shrank 3.3 percent, also the worst showing in more than 20 years.South Korea endured one of the worst early outbreaks of the coronaviru…

source https://this.kiji.is/en/658866098192843873?c=648607265489716321

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