2024 Q1: South Korea's GDP grew 1.3%, driven by exports and private spending, with inflation below 3%.

2024 Q1 saw South Korea's GDP grow 1.3%, exceeding the previous quarter's 0.6%. Real GNI increased 2.4% QoQ, slightly below expectations, but higher than the 2.2% growth in Q4 2023. Exports and private spending contributed to the growth, and the inflation rate remained below 3% in May. South Korea's economy is projected to grow 2.5% in 2023, rebounding from a 1.4% expansion in 2022.

June 04, 2024
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