Summary: South Korea’s GDP contracted 0.1% year-on-year in the first quarter, primarily due to a 12.4% drop in construction. The Bank of Korea warned of slower growth in 2025, attributing it to political uncertainties and deteriorating trade conditions. Amidst political turmoil and trade tensions, the bank forecasts rate cuts and fiscal stimulus to support economic growth.

Link: https://www.cnbc.com/2025/04/24/south-korea-gdp-contracts-in-the-first-quarter.html