Seoul: The South Korean economy grew 0.6 percent in the second quarter from a quarter earlier on robust exports, with 3 percent annual growth within reach, central bank data showed Thursday. The country's real gross domestic product (GDP) -- a key measure of economic growth -- rose 0.6 percent in the April-June period from three months earlier, according to advance data from the Bank of Korea (BOK).
According to Yonhap News Agency, the second-quarter reading slowed from the previous quarter's 1.8 percent expansion, the strongest quarterly growth since the third quarter of 2020, when the economy expanded 2.2 percent. The figure exceeded the BOK's May forecast of 0.2 percent growth. From a year earlier, the Korean economy grew 3.7 percent in the second quarter, slightly slowing from the first quarter's 3.8 percent growth.