South Korea GDP contracts 0.1% in the first quarter amid political uncertainty
- South Korea's economy contracted by 0.1% in the first quarter of 2025, marking a decline amid political chaos and global trade tensions, according to the Bank of Korea.
- Exports to the U.S. Dropped by more than 14%, contributing to a decline in shipments during January to March, as stated by the Korea Customs Service.
- Political turmoil followed the impeachment of former President Yoon Suk Yeol on April 4, which negatively impacted consumer spending and confidence.
- The International Monetary Fund lowered its growth forecast for South Korea to 1.0%, reflecting concerns over tariffs and domestic challenges.
55 Articles
55 Articles
South Korea's economy shrinks in Q1 as trade war hits exports
SEOUL, South Korea — South Korea’s economy unexpectedly contracted 0.1 percent in the first three months of this year, the country’s central bank said Thursday, as the Asian export giant reels from months of political chaos and heightened trade tensions. US President Donald Trump’s threatened 25 percent “reciprocal” tariffs on export-dependent South Korea have rattled
South Korea’s economy shrinks in first quarter amid tariff uncertainty, political turmoil
South Korea's economy unexpectedly contracted in the first quarter of the year, the country's central bank said Thursday, amid political turmoil at home and global uncertainty around Trump's tariff scheme.

S. Korea's economy shrinks in first quarter as trade war hits exports
South Korea's economy unexpectedly contracted 0.1 percent in the first three months of this year, the country's central bank said Thursday, as the Asian export giant reels from months of political chaos and heightened trade tensions.
South Korea Faces Economic Setback Amid U.S. Tariff Tensions
South Korea Faces Economic Setback Amid U.S. Tariff Tensions In a surprising turn, South Korea's economy contracted in the first quarter, spurred by halted exports and consumption amid fears surrounding Washington's persistent tariffs. The national Gross Domestic Product dipped by 0.2%, defying predictions of a slight increase according to a recent Reuters survey.This downturn has amplified demands for the Bank of Korea to implement further inte…
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