April 26, 2024

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[THE INVESTOR] Korea’s economy grew at a faster pace in the first quarter than three months earlier, central bank data showed on April 27.

In the January-March period, the country’s GDP increased 0.9 percent from the previous quarter, improving from a 0.5 percent on-quarter expansion three months earlier, according to preliminary data from the Bank of Korea.

The central bank data showed construction investment grew 5.3 percent in the first quarter from the previous quarter, and facility investments rose 4.3 percent on-quarter in the first quarter.

The data also showed the services sector expanded 0.1 percent from the previous quarter, compared with a 0.2 percent on-quarter expansion three months earlier.

Exports grew 1.9 percent from the previous quarter, while imports increased 4.3 percent.

By Alex Lee and newswires (alexlee@heraldcorp.com)