South Korea's economy expanded 1.2% year on year in the fourth quarter, its slowest expansion since the second quarter of 2023. The 1.2% reading missed analysts' expectations of 1.4% growth. On a quarter on quarter basis,

Political turmoil over impeached President Yoon Suk Yeol, who failed a martial law attempt in December, and sluggish domestic demand weighed on Asia’s fourth-largest economy.

The South Korean economy posted weaker-than-expected growth last year amid slowing export growth, sagging domestic demand and a political crisis, central bank data showed Thursday. The country's real gross domestic product -- a key measure of economic growth -- increased 2 percent in 2024,