Seoul, Sep 10
South Korean companies reported weaker overall growth and profitability in the second quarter due mainly to the impact of the United States' aggressive tariff scheme, the central bank said on Wednesday.
Combined sales of 26,067 companies subject to external audit fell 0.7 percent from a year earlier in the April-June period, reversing from a 2.4 percent on-year gain in the first quarter, according to data from the Bank of Korea (BOK), reports news agency.
It marked the first time since the fourth quarter of 2023 that sales growth turned negative.
Sales in the manufacturing sector declined 1.7 percent in the second quarter, compared with a 2.8 percent increase in the previous quarter, while sales growth in the non-manufacturing sector slowed to 0.3 percent from 1.9 percent over the same period.