It was the lowest growth since 2009 when the real GDP edged up 0.8 percent on the negative effect from the global financial crisis, according to the Bank of Korea (BOK). The GDP gained 3.2 percent in 2017 and 2.7 percent in 2018 respectively.
The 2019 GDP expansion was below the estimated growth potential of 2.5-2.6 percent for the South Korean economy.
The real GDP contracted 0.4 percent in the January-March quarter from three months earlier, marking the lowest in 41 quarters since the fourth quarter of 2008.
The GDP growth rebounded to 1.0 percent in the second quarter, but it slowed to 0.4 percent in the third quarter.
From three months earlier, the real GDP advanced 1.2 percent in the October-December quarter on the government's efforts to bolster the lackluster economy.
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