RTTNews - Wednesday, South Korea's Finance Minister Yoon Jeung-hyun said the economy is expected to grow more than the initial estimate in the second quarter.

According to the advance estimate released by the Bank of Korea in July, the economy expanded 2.3% sequentially in the second quarter. On an annual basis, gross domestic product eased 2.5%. The central bank is set to release the revised data on September 3.

Yoon said the expansion will likely be in the range of 2.6%-2.7% in the second quarter.

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