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South Korea's economy grows 0.7% in Q2

South Korea's economy increased 0.7% in the April-June period from three months earlier amid eased coronavirus restrictions, according to central bank data. The latest GDP figure was unchanged from the Bank of Korea (BOK)'s earlier estimate announced in late July. The growth slightly quickened from the previous quarter's 0.6% rise. The faster on-quarter growth is attributed to a robust increase in private spending that has been bolstered by eased pandemic-related restrictions. South Korea's economy has been facing growing uncertainty from home and abroad.

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