The Korean economy will grow by 2% in 2024

SEOUL, January 23, 2017 – Data issued by the Central Bank of Korea, today, Thursday, showed that the economy of the Republic of Korea recorded weaker growth than expected during the year 2024.

The Korean Yonhap News Agency reported that the country’s real gross domestic product – a key measure of economic growth – achieved 2% growth last year, according to preliminary data issued by the bank.

The agency added that the 2024 figure was lower than the Central Bank of Korea’s expectations of an expansion of the economy by 2.2%, despite increased growth compared to 1.4% during 2023.

She pointed out that the Korean economy recorded growth of 0.1% on a quarterly basis during the fourth quarter of last year.

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