S. Korea's Economy Shrinks In First Quarter As Trade War Hits Exports

Source: International Business Times

People walk past a bull and bear sculpture in front of the Korea Exchange building in Seoul AFP South Korea's economy unexpectedly contracted 0. 1 percent in the first three months of this year, the country's central bank said Thursday, as the Asian export giant reels from months of political chaos and heightened trade tensions. US President Donald Trump's threatened 25 percent "reciprocal" tariffs on export-dependent South Korea have rattled Asia's fourth-largest economy, sending Seoul-listed shares tumbling and pushing the currency to its weakest level since 2009.