South Korea's economy grew 0.9 percent in the second quarter

South Korea’s GDP grew by 0.9 percent in the first quarter of 2023. According to preliminary data released by the Bank of Korea (BoK), South Korea’s gross domestic product grew by 0.9 percent annually in the second quarter of 2023. Economists had expected growth to come in at 0.8 percent. After growing by 0.3 percent quarter-on-quarter in the first quarter, it grew by 0.6 percent in the second quarter, the biggest three-month growth since the second quarter of 2022. Market expectations were for the increase to be 0.5 percent.