3분기 GDP 성장률 1.9%…상반기 역성장 딛고 반등<br /><br />Economic data for the third quarter shows Korea's gross domestic product grew by nearly two-percent... the first quarterly growth this year.<br />This comes despite the resurgence of the COVID-19 pandemic over the past few months.<br />Eum Ji-young has the details.<br />Despite the surge in COVID-19 infections in the past couple of months, South Korea posted a first quarterly GDP growth of 2020.<br />The Bank of Korea said on Tuesday that the country's GDP in the third quarter grew by 1-point-9 percent compared to the previous quarter.<br />The South Korean economy had previously shrunk,... by 1-point-3 percent in the first quarter and by 3-point-2 percent in the second quarter.<br />The central bank says the third quarter's growth could be from the base effect coming after the second quarter saw the lowest growth in over 11 years.<br />But it also said it could revise its 2020 growth outlook upwards.<br />"Negative 1-point-3 growth can be achieved for 2020 if we get 1-point-3 to 1-point-4 percent growth in the third and the fourth quarter. Since the third quarter growth is 1-point-9 percent, the outlook could be revised."<br />He added that the country's exports played a big part in the improved GDP figures. Exports, which are the key driver of the South Korean economy, rose by 15-point-6 percent on-quarter led by automobiles and semiconductors... mainly due to the economic recovery seen in major trading partners such as China.<br />One expert said the South Korean economy is still worse compared to the same period last year, but it could get better in some areas over the next few quarters.<br />"Negative overall growth for 2020 is inevitable in the current situation, but as the government will conduct large scale financial projects, there could be some improvement in the 4th quarter."<br />Shortly after the central bank released the figures, finance minister Hong Nam-ki said he expects the economy to continue to pick-up in the following quarters.<br />He said that it is meaningful to see the recovery,... especially in exports, but added that the country might have seen even more growth if there hadn't been a resurgence of the virus in August.<br />Eum Ji-young, Arirang News.<br />
