The South Korean economy grew one-point-three percent in the first quarter.
According to tentative data by the Bank of Korea on Thursday, the country's real gross domestic product(GDP) increased one-point-three percent in the January-March period from the previous quarter.
It marks the largest quarterly growth in 27 months since the fourth quarter of 2021, when it posted one-point-four percent.
Compared to a year earlier, the real GDP grew three-point-four percent.
The growth was led by exports and construction investment, which increased zero-point-nine percent and two-point-seven percent, respectively, in the first quarter.
Private consumption increased zero-point-eight percent in the first quarter, while facility investment decreased zero-point-eight percent.
The nation’s real gross domestic income climbed two-and-a-half percent in the first quarter compared to the previous quarter.
Regarding the figures, the presidential office said South Korea is seeing a balanced recovery between exports and domestic demand, and cautiously projected that the nation’s economic growth for this year may be able to exceed its two-point-two percent forecast.