S.Korean economy grows more than expected in Q2

Korea's economy grew 3.2 percent in the second quarter of this year compared to the same period of 2015, slightly more than the 3.1 percent economists had predicted.

Also, the contribution of exports to economic growth returned to the positive range raising expectations that the economy had finally bottomed out.

The Bank of Korea on Tuesday said economic growth in the April-June period stood at 0.7 percent, up 0.2 percentage points from the first quarter. This translates into 3.2 percent in annualized growth.

Chang Min at the BOK said, "The second-quarter figures alone are a good sign."

First-quarter growth was pulled down by falling exports, but they started to rebound in the second quarter.

Thanks to recovering exports, behemoths Samsung and LG have both announced second-quarter earnings that surpassed market expectations.

(THE CHOSUNILBO)