South Korea recorded an economic growth rate of -3.3% for the second quarter of 2020, the lowest the country’s seen since the 1997 Asian financial crisis. According to the Bank of Korea, the country’s real GDP decreased by 3.3% in the second quarter of 2020 compared to the same period last year, the worst growth rate the country has seen since the first quarter of 1998, when it was -6.8%. Real GDI also decreased by 2.0%. Analysts pointed to sluggish exports and manufacturing as factors behind the diminished growth.