South Korea's Surprisingly Bad Economy Threatens Moon’s Political Future
- President faces setbacks on two fronts as term grinds on
- Emboldened opposition moves to frustrate his policy agenda
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South Korea’s Moon Jae-in has staked his presidency on tackling two big challenges: North Korea and the economy. Both are proving stubborn foes.
The country’s gross domestic product contracted 0.3 percent in the first quarter -- the biggest decline in a decade -- the Bank of Korea said Thursday. The blow came just two days before the president was expected to mark the first anniversary of his historic summit with North Korean leader Kim Jong Un -- with an event snubbed by the North Koreans.