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Korean economy growing at rapid pace

South Korea’s GDP grew 2.3% over the second quarter of 2009, its fastest pace of growth in over five years.

The figures add to positive sentiment over economic recovery prospects in Asia, which has also seen strong second quarter growth in China and Singapore.

The country saw a contraction of GDP in the last quarter of 2008 followed by marginal growth of 0.1% in the first quarter of this year.

The Bank of Korea said much of the increase was because of a significant pick up in exports which rose 14.7% over the quarter.


Related Articles:
Korean stimulus must continue, says IMF
South Korean GDP growth hits expectations

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