01.06.202323:06:00UTC+00South Korea GDP Expands 0.3% In Q1

South Korea's gross domestic product was up a seasonally adjusted 0.3 percent on quarter in the first quarter of 2023, the Bank of Korea said on Friday.

That was in line with expectations following the upwardly revised 0.3 percent contraction in the previous three months (originally -0.4 percent).

Real gross national income (real GNI) increased by 1.9 percent in the first quarter of 2023 compared to the previous quarter.

On an annualized basis, GDP climbed 0.9 percent, exceeding expectations for an increase of 0.8 percent following the 1.3 percent gain in the three months prior.