South Korea posts worst growth in two decades

People wearing face masks cross a road in Seoul on Sept. 11, 2020. - AFP

SEOUL (AFP): South Korea recorded its worst growth in more than two decades in 2020, the central bank said Tuesday (Jan 26), but it is expected to be among the best-performing OECD economies in the wake of the coronavirus pandemic.

The country's gross domestic product contracted 1.0 per cent in 2020 from a year earlier, the Bank of Korea said, citing weak private spending and exports.