South Korea unveils stimulus to combat export slump

South Korea's exports, the main driver of the national economy, suffered their sharpest drop in more than six years in January, extending what is now a 13-month losing streakSouth Korea on Wednesday unveiled a stimulus package, including an extra six trillion won ($4.94 billion) in public spending, to bolster an economy struggling with falling exports and high youth unemployment. The package, announced by the finance ministry, came as Asia’s fourth-largest economy in Asia saw its exports plunge 18.5 percent on-year in January — the sharpest decline for more than six years.

Share this article