Korean central bank data released on 26 May, 2011, South Korean gross domestic product (GDP) grew 3.6%, the growth rate hit the lowest since 2009, lower than the central bank had expected growth of 3.8%.

data show that South Korea last year, manufacturing output increased 7.1% over the previous year, service sector output grew 2.6%, but output fell by 1.0% agriculture, forestry, fisheries, construction output decreased 5.6 percent.

data also show that the fourth quarter of last year, Korea’s GDP grew 3.4%, growth of 0.4%.

Bank of Korea official said, the European debt crisis and other negative factors dragging down the global economy last year, Korea’s economic growth, especially in the fourth quarter of last year, South Korea’s economic growth slowed down significantly. Meanwhile, private consumption and investment in equipment to reduce the construction industry downturn, has led to lower than expected economic growth in South Korea last year.

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