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Al Jazeera
Al Jazeera
Business

South Korea’s economy barely avoids recession amid rocky outlook

Economy South Korea Recession ING Asia
South Korea's economy narrowly avoided recession in the first quarter of 2023 [File: Kim Hong-Ji/Reutes

South Korea’s economy has barely avoided recession amid challenging global economic conditions for Asia’s fourth-largest economy.

South Korea’s gross domestic product (GDP) grew 0.3 percent during January-March, government figures showed on Tuesday, rebounding from a 0.4 percent contraction in the final quarter of 2022.

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