A private think tank says that the growth structure of the South Korea economy remains deformed and vulnerable despite the rise in economic growth.

The Hyundai Research Institute said on Sunday in its report on recent economic trends that the economy grew more than one percent in the first quarter for the first time in six quarters, but the growth mostly relies on construction investment. Private consumption’s contribution to the growth was a mere 0.2 percent.

The institute said that the recent rise in the economic growth results from construction investment, not private consumption, adding it cannot underestimate uncertainties behind the improving economic indicators.

It added that domestic consumption started to improve in the second half of last year, but it needs to be seen whether the recovery of consumption will continue.

The think tank said that despite the continued rise in the country's exports, shipments to China and the United States remain weak, casting a shadow over the recovery of exports.