Survey: The South Korean economy may recover growth in the second quarter, with exports and domestic demand gradually picking up.

A survey by Reuters of economists shows that with the moderate rebound in exports and gradual recovery in domestic demand, the South Korean economy may recover growth in the last quarter. The median estimate of 22 economists shows that after shrinking by 0.2% in the first quarter due to weak consumption and exports, this fourth largest economy in Asia is expected to grow by 0.5% in the second quarter after seasonal adjustments. If this proves to be true, it will be consistent with the forecast made by the Bank of Korea in May. According to the median forecast of 23 economists surveyed from July 15th to 21st, it is expected that the GDP will grow by 0.4% year-on-year in the second quarter, compared to zero growth in the first quarter of this year.