South Korea's economic growth rate ranked fifth among members of the Organization for Economic Cooperation and Development (OECD) in the first quarter of the year, a sharp turnaround from three months earlier.

According to OECD data on Sunday, the country's economy expanded one-point-one percent in the January-March period from three months earlier, the fifth-highest among OECD member nations.

It marks a sharp turnaround from the previous quarter when it ranked near to the bottom at 34th among 35 OECD nations as the economy contracted point-two percent on-quarter.

The average growth rate of the 35 OECD nations came to half of a percent for the first quarter. Japan came in last with a growth rate of minus point-two percent.