The Bank of Korea reported on Thursday that the economy expanded 0.6 percent in the second quarter from the previous quarter, beating market forecasts.
The Bank of Korea said preliminary data showed real gross domestic product rose 0.6 percent in the April-June period from three months earlier. This marked a slowdown from the first quarter's 1.8 percent expansion but exceeded the median market forecast of 0.3 percent and the central bank's own May projection of 0.2 percent.
Exports increased 1.4 percent, driven by semiconductors and machinery and equipment. Private consumption rose 0.4 percent and facility investment edged up 0.2 percent, while construction investment slipped 0.2 percent.
On a yearly basis, real GDP grew 3.7 percent. Real gross domestic income rose 3.6 percent from the previous quarter and 15.6 percent from a year earlier.
