ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

South Korean GDP shrinks 1.4% in first quarter, most since 2008

Contraction stems from coronavirus hitting demand and spillover from China

A man walks in central Seoul while holding a mask in his hand on Tuesday.   © Reuters

SEOUL -- South Korea's economy contracted 1.4% in the first three months of 2020 from the previous quarter, marking the biggest drop since 2008 as the coronavirus pandemic battered the export-driven country.

The Bank of Korea said Thursday that gross domestic product shrank in the first quarter mainly due to a negative spillover from China, which shut down many of its economic activities in the period.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more