South Korea's economy contracted zero-point-two percent in the second quarter. 

The Bank of Korea(BOK) said on Thursday that the real gross domestic product(GDP) decreased zero-point-two percent quarter-on-quarter in the April-June period.

It marks the worst on-quarter performance since the fourth quarter of 2022, when the economy retreated zero-point-five percent.  

Compared to the same period last year, the real GDP grew two-point-three percent. 

The BOK attributed the contraction to a base effect, as the second-quarter performance was dragged down by the one-point-three percent growth in the first quarter, noting that the overall economic growth for the first half posted two-point-eight percent, the highest since the first half of 2022. 

The real gross domestic income(GDI) also dropped one-point-three percent quarter-on-quarter.