South Korea's gross domestic product or GDP declined a revised 5.1% sequentially in the fourth quarter, reversing a 0.2% rise in third quarter, a report by the Bank of Korea showed Friday. In January, the GDP was reported to have fallen 5.6% in the fourth quarter.

Year-on-year, the GDP contracted 3.4% in the fourth quarter, matching the initial estimate.

For the whole of 2008, the GDP grew 2.2%, slower than a 2.5% rise estimated earlier.

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