South Korea’s GDP growth in 64 years was driven by exports.

The BOK revealed that GDP in the 4th quarter of 2021 grew 4.1% compared to 2020, the largest increase in 11 years, and forecasts GDP this year to grow 3.0%, despite the number of Covid-19 cases. also increased because of the Omicron species

central bank of south korea (BOK) stated that The main factor contributing to South Korea’s gross domestic product (GDP) growth in the fourth quarter was mainly due to a 4.3 percent increase in exports.

and increased domestic consumption In particular, private consumption rose by 1.7 percent, which was before South Korea faced the COVID-19 outbreak. Omicron species This increase could be a key stimulus for the BOK to cancel emergency stimulus measures this year.

But the South Korean economy may slow down in the first quarter of this year after it faced the coronavirus outbreak. Omicron species As a result, the government has announced to increase the measures to prevent the spread of COVID-19 to 2 times in January.

while the number of people infected with COVID-19 Daily in South Korea surpasses 8,000 for the first time. This is caused by the Omicron strain that continues to spread rapidly. Even though the government has ordered the restoration of social strict measures

The South Korean Centers for Disease Control and Prevention (KDCA) reported 8,571 new infections in the 24-hour period on Monday, breaking the daily record of 7,848 cases in mid-December.

South Korea confirmed that Omikron became the main species that spread in the country They accounted for 50.3% of the total number of new infections over the past week.

The South Korean government restored social distancing measures in December after the number of daily infections hit a new record. and there are more severe cases of COVID-19 Until the risk of tightening the health system before South Korea faces the wave of the Omicron outbreak.

The number of infections in South Korea had dropped by nearly half to around 4,000 a day this month. before rebounding again last week due to the influence of the Omicron mutant coronavirus. While many parties are concerned that The numbers may skyrocket after the Lunar New Year holidays. Tens of millions of South Koreans will return to their homeland to visit their families.

The KDCA said South Korea had a cumulative total of 733,902 infections and 6,540 deaths, while nearly 95% of the adult population had been vaccinated and nearly 58 percent had received the third booster shot.

Despite South Korea facing a new round of outbreaks, the BOK continued to raise its policy rate for the second time in four months earlier this month. last Jan

last week The South Korean government has released a new economic stimulus package of 14 trillion won to help small business owners affected by the latest round of the coronavirus pandemic, while economists in South Korea expect the BOK to adjust. Raising the policy rate again in the 4th quarter of 2022

after BOK Reveal economic numbers in a few hours. Hundreds of small business owners announced plans to gather at the National Assembly in Seoul to shave their heads against the social distancing measures that have hurt retail sales and hospitality business revenues everywhere. The type fell dramatically.

Business confidence in South Korea continues to deteriorate and the public is pessimistic about the economy. including dealing with the outbreak of COVID-19 While South Korea will have a presidential election on March 9. would not benefit the candidates from both the ruling party and the opposition party

The BOK expects GDP this year to grow at a rate of 3.0 percent, while Asia’s fourth-largest economy will benefit from strong semiconductor exports and higher public spending. climb Although this week’s COVID-19 outbreak will cripple domestic consumption

“Global demand for chips continues to rise and continued export growth continues to drive South Korea’s economy to expand. As people get used to keeping social distance Business activity slowed in December but was a slowdown compared to the previous period,” said Hwang Sang-pil, chief economist at the BOK’s Department of Economic Statistics.

President Moon South Korea’s Jae In Campaign for people to wear masks go get vaccinated and avoid traveling during the Korean New Year This year falls on Feb. 1 and there will be a long public holiday until Feb. 2.

President Moon It also advised South Korea’s committee in charge of developing COVID-19 control measures to modify its omikron testing methods, such as using early detection methods for low-risk groups. and provide PCR diagnostic tests for high-risk groups such as Elderly people and people with chronic diseases and warned that COVID-19 may return to spread in South Korea in a short time

The South Korean Presidential Palace said that President Moon who returned to South Korea on Saturday After completing a visit to the United Arab Emirates Saudi Arabia and Egypt, a total of eight days, will work at home until Jan. 25 local time. This is in line with the South Korean government’s disease control guidelines.