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South Korea's economy was lackluster in the fourth quarter of last year, and the political crisis has undermined consumer confidence.
On January 23rd, Jinshi data reported that the South Korean economy remained sluggish in the fourth quarter of last year. The martial law incident of Yin Xiyue further hit the already weak consumer confidence due to the slowdown in export growth. The Central Bank of South Korea announced on Thursday that the GDP rose 0.1% on a quarter-on-quarter basis in the fourth quarter, lower than the economist's estimate of 0.2%. On a year-on-year basis, the economy rose 1.2%, also lower than the predicted 1.4%. South Korea's economy is expected to rise 2% in 2024, lower than the expected 2.1%.