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Al Jazeera
Al Jazeera
Business

South Korea’s economy beats growth forecasts

Economy South Korea Asia BOK
South Korea’s economy grew ahead of expectations in the second quarter as easing pandemic curbs spurred robust consumption [File: SeongJoon Cho/Bloomberg]

South Korea’s economy grew ahead of expectations in the second quarter as easing pandemic curbs spurred robust consumption, bolstering the case for further interest rate hikes to tame rising inflation.

Asia’s fourth-largest economy expanded 0.7 percent between April and June, compared with 0.6 percent the previous quarter, Bank of Korea (BOK) data showed on Tuesday.

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