S Korea’s growth slows in Q2

Seoul: South Korea’s economic growth slowed in the past quarter, the central bank said on Thursday, as a diplomatic row with top trading partner China over a US missile shield hit exports. The figures come as South Korea struggles to shake off an extended economic slowdown, a key factor in the election of left-leaning new President Moon Jae-In in May, who has promised a massive fiscal stimulus package. But second-quarter sales in the country’s key automobile industry were hammered by a wave of Chinese boycotts, seen as economic retaliation to Seoul’s agreement to a new US missile defence system, stalling any recovery. — AFP