Korea's economic growth slows to 2.6 percent in 2022
![Containers stacked up at a port in Busan on Dec. 21 [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2023/01/26/d725cd59-e1ca-4534-99a5-de8ed3af9cd4.jpg)
Containers stacked up at a port in Busan on Dec. 21 [YONHAP]
The country's gross domestic product (GDP) grew 2.6 percent in 2022, according to the Bank of Korea, compared to a 4.1 percent increase a year earlier.
The economy shrank 0.4 percent in the fourth quarter from the same period a year earlier.
A decline in private spending contributed to the quarterly fall.
BY JIN MIN-JI [jin.minji@joongang.co.kr]
with the Korea JoongAng Daily
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