The country's real gross domestic product(GDP) grew one-point-seven percent in the first quarter from the previous quarter, returning to pre-pandemic levels.

The Bank of Korea(BOK) announced its final estimate for the January-to-March period on Wednesday, which is zero-point-one percentage point higher than its tentative figure announced on April 27. 

Compared to the April data, growth in the manufacturing industry was one-point-one percentage points higher while growth in the service sector was zero-point-one percentage point lower. 

Last year, Asia’s fourth largest economy contracted in the first two quarters due to the fallout of the COVID-19 pandemic, dropping one-point-three percent in the first and three-point-two percent in the second.

However, it turned around in the third quarter with growth of two-point-one percent, followed by growth of one-point-two percent in the fourth. 

Buoyed by a solid recovery, the central bank last month raised its growth outlook for this year from three percent to four percent.