The South Korean economy grew at the slowest pace in six years last year. 

According to the advance estimate by the Bank of Korea(BOK) on Tuesday, the nation's economy expanded two-point-seven percent in 2018, slowing down from three-point-one percent the previous year.

It is the lowest on-year growth since 2012, when it posted two-point-three percent. But it did meet the BOK's growth forecast presented in October propelled by heavy fiscal spending in the fourth quarter. The growth also fell within the government's projection of between two-point-six percent to two-point-seven percent.

In the fourth quarter of last year, the economy expanded at a better-than-expected one percent from three months earlier and three-point-one-percent year-on-year.