South Korean authorities arrested and detained impeached President Yoon Suk Yeol, over his brief declaration of martial law last month. The dictator, eager to shut out the influence of Hollywood and K-pop, has been exalting a “shock brigade” of 300,000 teens and 20-somethings drafted into flood reconstruction.
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South Korea's economy barely grew in the fourth quarter of 2024, as the country's worst political crisis in decades hurts already weakened domestic demand and threatens to further sap growth in a year of rising external risks under a second Trump presidency.
South Korea's economy expanded at a weaker-than-expected pace of 2.0% in 2024 after lackluster growth in the fourth quarter amid weak consumer and business spending, bolstering the case for the central bank's another rate cut next month.
The data showed private consumption weakened and construction investment remained in contraction in the fourth quarter. Exports edged up on demand for semiconductors and other information-technology goods.