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flag South Korea's economy shrank in Q1 2024, posting the lowest growth among major economies.

flag South Korea's economy saw the lowest growth among 19 major economies in Q1 2024, with a 0.246% shrinkage in GDP. flag The Bank of Korea attributes the poor performance to political disruptions, including martial law imposed by former President Yoon Suk Yeol, and ongoing trade tensions exacerbated by U.S. tariffs. flag This contraction follows a period of weak growth and signals potential challenges for the economy's projected 1.5% growth in 2025.

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