South Korea's economic growth expanded last year on the back of strong exports, surpassing the three percent mark for the first time since 2014.<br /> According to the Bank of Korea on Thursday, South Korea's economy grew three-point-one percent in 2017, up from two-point-eight percent in 2016. <br />But the country's economy contracted zero-point-two percent on-quarter in the final quarter of 2017, slowing from bumper growth of one-point-five percent in the third quarter, the fastest expansion in seven years.<br />On top of the strong base effect, the Bank of Korea said fewer working days over the extra-long Chuseok holiday held back industrial production. <br />
