South Korea's economy in the year with the fastest rate of expansion in the second quarter, as government stimulus measures helped offset companies are hoarding cash.
South Korea's central bank said on Thursday that Asia's fourth largest economy grew by 2.3 percent from a year earlier in April, June. Preliminary figures since the second quarter of 2012 is the fastest-growing.
Economic growth of 1.1% from the previous quarter growth of more than two years.
Bank credit growth to improve the government's economic stimulus efforts.
Park Geun-hye's presidential government formulated a budget of 15.3 billion dollars in April and additional measures to stimulate the real estate market debut. Government said the additional budget will help create jobs and support small and medium-sized companies.
The central bank cut interest rates for the first time in seven months, in May, in order to help economic recovery. It also presents an annual economic outlook for South Korea in 2013 to 2.8 percent growth rate, from 2.6% to reflect the increase in government spending boost.
The second quarter growth figures emphasize that South Korea's economic recovery on track. But there is a stronger performance depends on domestic demand, including capital expenditures rebound. Korean companies lower capital investment during the quarter.
 



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