May 22, 2024

GHBellaVista

Imagination at work

South Korea Slumps Into a Recession

South Korea’s overall economy fell into a recession as it contracted for a next consecutive quarter, as the world wide coronavirus pandemic took a major toll on the export-reliant nation.

Gross domestic product shrank by 3.3% in the next quarter from the prior quarter when it contracted 1.3%, Bank of Korea facts confirmed Thursday.

The most current reading—Korea’s…