South Korea's economy barely grew in the fourth quarter of 2024, missing market expectations, as domestic demand was hurt in part by the country's worst political crisis in decades, raising bets for more fiscal and monetary support to revive growth.

South Korea's economic growth slowed in the final quarter of 2024, with political instability, including the brief declaration of martial law by President Yoon Suk Yeol, contributing to a significant dip in consumer confidence and domestic demand.

The data showed private consumption weakened and construction investment remained in contraction in the fourth quarter. Exports edged up on demand for semiconductors and other information-technology goods.