SEOUL, June 2 — South Korea’s economy contracted slightly less than expected in the first quarter, when the coronavirus outbreak hit consumer demand and economic activity, revised central bank data showed today. The world’s 12th-biggest economy shrank 1.3 per cent in the January-March period...
South Korea endured one of the worst early outbreaks of the coronavirus outside mainland China, and while it never imposed a compulsory lockdown, strict social distancing had been widely observed since March. — Reuters pic
The world’s 12th-biggest economy shrank 1.3 per cent in the January-March period over the previous three months, the Bank of Korea said. South Korea endured one of the worst early outbreaks of the coronavirus outside mainland China, and while it never imposed a compulsory lockdown, strict social distancing had been widely observed since March.
The country appears to have brought its epidemic under control thanks to an extensive “trace, test and treat” programme and life is beginning to return to normal with slightly relaxed social distancing rules.
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