All times are ET. The decline was slightly better than what analysts polled by Refinitiv expected, but still the worst in more than a decade.The economy still grew by 1.3% when compared to a year earlier.

South Korea's economy just recorded its most severe contraction since the 2008 financial crisis as the coronavirus pandemic weighed on consumer demand and exports. South Korea's economy has been hammered by the coronavirus pandemic AFP/Jung Yeon-je Exports have declined for four consecutive months and were down … 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. Meanwhile, the labour force participation rate edged up to 62.4 percent … Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. But short-time work programs — … The COVID-19 pandemic in South Korea is part of the worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners

At the end of February, South Korea had 3,700 confirmed cases and the United States had 74.. Five days later, on March 3, the number of new cases identified each day in South Korea … Adds comment from economist, new details from jobs report This helped Seoul manage the outbreak — South Korea quickly became a model for containing the coronavirus.South Korea took immediate steps to address the economic crisis as well. Two … All rights reserved. But that's still unlikely to save the economy from a "massive recession," according to Holmes. South Korea's economy has been hammered by the coronavirus pandemic AFP/Jung Yeon-je Exports have declined for four consecutive months and were down … Chat with us in Facebook Messenger. South Korea’s jobless rate jumped to a 10-year high in May as the coronavirus pandemic continued to take a toll on the trade-dependent economy. Don't miss out on the latest news and information. South Korea’s jobless rate jumped to a 10-year high in May as the coronavirus pandemic continued to take a toll on the trade-dependent economy.The unemployment rate climbed to 4.5% last month, from 3.8% in April, data from the statistics office showed Wednesday.
At an emergency meeting in March, it cut rates by 0.5 per cent to a record low of 0.75 per cent with a further 25 basis point cut in May. The latest extra budget, part of which is earmarked to fund Moon’s ““The coronavirus outbreak may have dwindled in South Korea, but it’s the freeze-up in trade that’s causing a second shock in the jobs market,” said Joseph Han at the Korea Development Institute. Mediacorp Pte Ltd. All rights reserved. Falling exports weigh on jobs even as Korea reins in outbreak The number of confirmed cases increased on 19 February by 20, and on 20 February by 58 or 70, giving a total of 346 confirmed cases on 21 February 2020, according to the Centers for Disease Control and Prevention Korea (KCDC), with the sudden jump … This service is not intended for persons residing in the EU. 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. She's not aloneThis AI technology tracks employees to enforce social distancingCovid-19 is driving millennials out of cities and into first homesShe lost her job in 2008.




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