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International Business Times
International Business Times
Business

Political Crisis Hits South Korea Growth: Central Bank

Yoon Suk Yeol South Korea Economic Growth Economy The Bank of Korea
South Korea's impeached President Yoon Suk Yeol's declaration of martial law hits the country's economic growth (Credit: AFP)

South Korea's economic growth slowed in the last quarter of 2024, data from the central bank showed Thursday, as the country struggled with the fallout from impeached President Yoon Suk Yeol's brief declaration of martial law.

"GDP in the fourth quarter expanded 0.1 percent quarter on quarter and 1.2 percent on year," the central bank said in a statement, the lowest quarterly growth rate of the year after Yoon attempted to suspend civilian rule December 3.

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