South Korea cuts growth forecast to 2.4-2.5%

The South Korean government has downgraded its GDP growth forecast for this year to 2.4-2.5% from 2.6-2.7%, which was estimated early this year. The government’s action had been expected after GDP contracted in the first quarter by minus 0.4%, and exports continued to slump due to worsening external conditions such as the prolonged US-China trade […]