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Most stock quote data provided by BATS. The Gross Domestic Product (GDP) in South Korea was worth 1642.38 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Chat with us in Facebook Messenger. South Korea’s economic freedom score is 74.0, making its economy the 25th freest in the 2020 Index. That is the sharpest contraction since the first quarter of 1998 and steeper than a 2.3% fall seen in a Reuters poll. Capital Economics forecasts the Korean economy will contract by 6% in the second quarter compared to the prior quarter, and shrink by nearly 3% over the year as a whole.Before the virus hit, South Korea's exports-reliant economy had already grappled with And while South Korea appears to now have the virus under control, the economic pain is tangible. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates.Four possible reasons people are retesting Covid-19 positiveFour possible reasons people are retesting Covid-19 positiveHow coronavirus impacted this cruise line's Q2 earningsChildcare challenges force some working moms to put their careers on holdShe's out of work and facing eviction. But the rate of growth was slower than the 2.3% growth that the fourth quarter experienced year-on-year.

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. It is the worst contraction since the first quarter of 1998, pushing the economy into a technical recession, preliminary estimates showed. Our editors will review what you’ve submitted and determine whether to revise the article.In the 1950s South Korea had an underdeveloped, agrarian economy that depended heavily on South Korean society underwent an equally rapid transformation after the The GDP value of South Korea represents 1.37 percent of the world economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. But South Korea's economy will still take a hard hit as the rest of the world deals with the pandemic, according to Alex Holmes, Asia economist for Capital Economics. SEOUL (Reuters) - South Korea plunged into recession in the second quarter in its worst economic decline in more than two decades as the coronavirus pandemic battered exports and social distancing curbs paralysed factories. South Korea - South Korea - Economic and social developments: In the 1950s South Korea had an underdeveloped, agrarian economy that depended heavily on foreign aid. And the …

FILE PHOTO: Pedestrians in face masks cross a street, amid the spread of the coronavirus disease (COVID-19), in Seoul, South Korea, May 28, 2020.

Consumer spending declined 6.4% from the prior quarter, while exports decreased 2%. The real total GDP (gross domestic product) in South Korea is expected to grow by 2.92% in 2024. The Trading Economics Application Programming Interface (API) provides direct access to our data.

For the whole of 2020, analysts see the economy declining by a median 0.4%, which would be the first full-year contraction since 1998.

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South Korea's economic growth … Economy of South Korea The economy of South Korea is the fourth largest economy in Asia and the 11th largest in the world.

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