In the last quarter of last year, the South Korean economy grew by 0.1% compared to the previous quarter. This data indicates that the country's economy has not only slowed down but also the entire last year, the economy of South Korea actually expanded by 2%. It is also worth noting that these indicators turned out to be lower than the expectations of the Bank of Korea, which predicted an economic growth of 2.2% in 2024. In 2023, the country's economy grew by 1.4%, making the current growth rate seem considerably more optimistic at 2%. The Yonhap news agency reported that the real GDP, the main indicator of economic growth, increased by 2% last year according to preliminary data from the Bank of Korea. The data from the Bank of Korea showed that the country's economy in 2024 is expected to show a weaker growth compared to expectations.
