SEOUL, Jan. 26 (Yonhap) -- South Korea's economy grew at a slower pace in 2022 as export growth slumped amid economic recession woes, central bank data showed Thursday.
South Korea's gross domestic product is estimated to have grown 2.6 percent in 2022, compared with a 4.1 percent increase tallied in the previous year, according to the data from the Bank of Korea (BOK).
For the fourth quarter of last year, the economy shrank 0.4 percent from three months earlier, compared with the previous quarter's 0.3 percent growth.
The 2022 growth marked the slowest pace since 2020, when the economy contracted 0.7 percent amid the fallout from the coronavirus pandemic.
Special contribution by U.S. Secretary of Defense Lloyd Austin
Adversary that challenges S. Korea challenging Seoul-Washington alliance as whole: U.S. defense chief
Actor Song joong-ki announces marriage and wife's pregnancy
(URGENT) Pentagon chief says trilateral cooperation among S. Korea, U.S., Japan enhances 'all of our security'
(LEAD) Most people masked up on 1st day of lifting of mandate rules