Seoul:The Republic of Korea's economy recorded a 1% growth in the third quarter compared to the previous quarter, as reported by the central bank data on Tuesday. This increase is attributed to robust exports and investment activities.

According to Wam, the country's real gross domestic product (GDP), a primary indicator of economic growth, showed a 1% rise in the July-September period compared to the preceding three months. This advance data was released by the Bank of Korea (BOK).

The third-quarter growth surpassed the previous quarter's 0.6% expansion and exceeded the BOK's earlier prediction of 0.3% made in August. On a year-on-year basis, the economy expanded by 3.4% in the third quarter, which is a slight deceleration from the 3.7% growth observed in the second quarter.