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The South Korean economy grew 7.6 percent in the first half of the year, posting its fastest expansion since 2000. Its central bank data shows the country's economic growth slowed less than expected in the second quarter.
Asia's fourth largest economy grew by a seasonally adjusted 1.5 percent in the second quarter from the previous quarter. And it grew 7.2 percent from a year earlier. This offers some respite to investors worried that the global recovery is losing steam.
Analysts say the data supported their views the Bank of Korea will raise interest rates further this year, after surprising markets earlier this month with its first rate increase since the outbreak of the global crisis.