Reported 3 days ago
South Korea has significantly reduced its GDP growth forecast for 2025 to 1.8%, down from previous estimates, due to the economic impact of impeached President Yoon Suk Yeol's martial law declaration and concerns over trade amid global uncertainties. The economy faces challenges including weaker private consumption, a potential correction in demand for memory chips, and political instability, prompting speculation of further interest rate cuts by the Bank of Korea.
Source: YAHOO