SEOUL, Oct 27 — South Korea’s economy grew more than three times faster than expected in the third quarter, driven by booming semiconductor demand, central bank data showed Tuesday.
Gross domestic product (GDP) expanded 1.0 per cent quarter-on-quarter in July-September, according to preliminary figures from the Bank of Korea (BOK).
The figure exceeded the bank’s August forecast of 0.3 per cent growth.
The reading was boosted by a 2.3 per cent rise in exports, “led by semiconductors, machinery and electrical equipment”, the BOK said.
