The Bank of Korea and local and global think tanks have modestly raised their growth outlooks on Korea for this year, raising expectations of economic recovery.

Market pundits project first quarter growth will be around zero-point-seven to point-eight percent, compared to half a percent in the previous quarter.

Reviving exports and increasing facility investment in the semiconductor and IT sectors are the main factors leading recovery momentum.

Some analysts, however, suggest actual recovery may be overstated because it's limited to certain industries. 

Private consumption stopped its minus growth trend, but experts call for more time to observe whether economic conditions felt by consumers and households actually improve.

They also want to see more quality jobs and household income rise.