South Korea’s economy grows faster than expectations in the second quarter
On September 3 / WAM / Data published today showed the growth of the South Korean economy in the second quarter of this year with faster expectations, driven by the power of exports and investment.
The data published by the Central Bank of Korea stated that the country’s real GDP, which is a main measure of economic growth, increased by 0.7% during the period from April to June, compared to the first quarter of this year, an increase of 0.1 percentage points from the previous expectations.
The growth rate in the second quarter represents the highest growth rate since the first quarter of 2024, when GDP grew 1.2%.
The Korean economy also grew by 0.6% on an annual basis in the second quarter, which also increases by 0.1 percentage points from previous estimates.
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