Pandemic pushes South Korea into recession as GDP contracts 3.3pct in Q2

South Korea’s economy recorded its first technical recession since 2003 in the June quarter, as health restrictions from the coronavirus pandemic hammered economic activities and global demand.

Gross domestic product (GDP) decreased by a seasonally adjusted 3.3 percent in the June quarter, the central bank said on Thursday, after declining 1.3 percent in the previous quarter and much worse than a 2.3 percent contraction seen in a Reuters poll...