The preliminary data released by South Korea shows that the local economy grew by 1.3% quarter-on-quarter after seasonal adjustment in the first quarter, the fastest growth rate since the fourth quarter of 2021, and exceeded the market's expected growth of 0.6%. It grew by 0.6% quarter-on-quarter in the fourth quarter of last year. South Korea's economy grew by 3.4% year-on-year in the first quarter, also higher than the market's expected growth of 2.4%. The previous quarter was a year-on-year growth of 2.2%.
South Korea's economic growth unexpectedly accelerated in the first quarter.
