South Korea's gross domestic product expanded a seasonally adjusted 0.7 percent on quartering the second quarter of 2022, the Bank of Korea said in Tuesday's advance estimate.
That exceeded expectations for an increase of 0.4 percent and was up from 0.6 percent in the three months prior.
On an annualized basis, GDP was up 2.9 percent - again topping forecasts for 2.5 percent and easing slightly from the 3.0 percent expansion in the first quarter of 2022.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.