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The Korean economy expanded 0.6 percent in the second quarter compared to the previous three months, as imports dropped at a faster rate than exports, the Bank of Korea (BOK) said Tuesday. It was the fastest quarterly growth since the second quarter of 2022, when the Korean economy grew 0.8 percent.
The Korean economy grew 0.3 percent in the first quarter of 2023 from three months earlier, thanks to an increase in private spending that helped the trade-reliant economy escape recession amid a prolonged slowdown in exports.
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