South Korea enters recession as exports plunge by most since 1963

Asia’s fourth-largest economy shrank by a seasonally adjusted 3.3% in the June quarter from three months earlier, the Bank of Korea said on Thursday. That is the sharpest contraction since the first quarter of 1998 and steeper than a 2.3% fall seen in a Reuters poll.

South Korea joins Japan, Thailand and Singapore in technical recession, defined as two straight quarters of decline, as the pandemic slams Asia’s trade-reliant economies.

Read more at :
South Korea enters recession as exports plunge by most since 1963 - Reuters