Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023.
South Korea has prepared a financial support program of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates.
Asia-Pacific markets mostly fell Thursday after U.S. stocks dropped overnight, with the Dow Jones Industrial Average posting its worst day in more than a month.
In Asia, South Korea narrowly avoided a technical recession with its third-quarter GDP growing 0.1% quarter on quarter, following a 0.2% contraction in the second quarter.
On a year-on-year basis, South Korea's economy grew 1.5%, also slower than the 2% increase expected by economists.
Organizations:
Dow Jones
Locations:
Seoul, South Korea, Asia, Pacific