Latest data out of South Korea's central bank paints a grim picture for the economy.<br />ccording to the Bank of Korea, the country's economy grew at its slowest pace in six years in 2018.<br />Our Ko Roon-hee reports. <br />According to the Bank of Korea on Tuesday, the nation's GDP increased by two-point-seven percent last year. <br /> This marks the slowest pace since 2012... when the economy grew by two-point-three percent. <br />But this year's figure did meet the BOK's earlier growth forecast made in October of last year. <br /><br /> The central bank attributed the slowing pace of growth to sluggish investment. <br />Construction and facilities investment fell by four percent and one-point-seven percent, respectively. <br /> The Bank of Korea says economic uncertainties such as the U.S.-China trade war and the slowdown in China caused the fall. <br />Officials also pointed to the base effect...as investment increased in 2017, especially in the semiconductor sector. <br /><br />On a brighter note, exports of goods and services expanded by four percent in 2018...thanks to continued high demand for semiconductors. <br /><br />During the October-to-December period, South Korea's GDP rose one percent on-quarter. <br />In the fourth quarter, however, exports of goods and services decreased by two-point-two percent. <br />Analysts have been pointing to the decrease in semiconductors shipments...which account for around 20-percent of South Korea's overall exports. <br />There has been lower demand and a fall in memory chip prices...mainly due to a decrease in investment in data centers.<br />Ko Roon-hee, Arirang News. <br />
