SoKor economy posts first rebound in three-years, grows 2.8 pct in 2013

SEOUL, Jan. 23 (PNA/Xinhua) — The South Korean economy grew 2.8 percent in 2013, the first rebound in three years, central bank data showed Thursday.

Real GDP, the broadest measure of economic performance, expanded at an annual rate of 2.8 percent, said Bank of Korea (BOK).

The growth continued to fall to two percent in 2012 after peaking at 6.3 percent 2010 but rebounded last year to 2.8 percent for the first time in three years.

The rebound was bolstered by solid export growth and continued expansion in private spending, central bank said, noting a sharp rise in construction investment also boosted the economic growth.

In the fourth quarter of last year, real GDP expanded 0.9 percent after rising 1.1 percent in the prior quarter. (PNA/Xinhua)