A Bank of Korea official speaks about economic growth.[Yonhap News Photo ]
South Korea's economy showed a slight gain in the second quarter, supported by government measures to prop up consumption and exports, central bank data showed Tuesday.
In the second quarter, gross domestic product rose 0.7 percent on-quarter after a 0.5 percent gain in the first quarter, according to preliminary figures from the Bank of Korea. The economy grew 3.2 percent from a year earlier.
Private consumption and exports picked up slightly in the second quarter, compared with a contraction in the previous quarter.
Last week the government announced an 11 trillion won ($9.7 billion) supplementary budget as part of a broad fiscal stimulus package worth 28 trillion won, to boost growth and cushion the impact of corporate restructuring.
The central bank lowered its key interest rate to a record 1.25 percent in June as exports remained sluggish amid lingering uncertainties in global trade.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
Copyright ⓒ Aju Press All rights reserved.
