The economy of South Korea is growing at the fastest pace in two years

The metallurgical industry and the economy of South Korea in the first quarter have increased the most in the last two years, since the government has withstand the pressure of the yen course, from the opponents in Japan. Korea Bank said that the internal gross product has acquired 0.9 percent compared to the previous months after 0.3 percent of growth in the fourth quarter. This exceeds the average level of 0.7 percent.

The President of South Korea said that $ 15 billion of an additional budget served as an incentive this month, when the fourth largest economy of Asia is faced with the fall of the yen. Today's report may encourage Korea Bank to continue to resist the political pressure on the issue of reducing the interest rate after the costs of loans were left unchanged in April.

MR Kong Dong RAK, a fixed analyst at Hanwha on investment and securities in Seoul, said that "the government stimulus and improve global economic conditions can contribute to even faster growth in the second quarter." The economy increased by 1.5 percent compared to last year, since the government gave an incentive by allocating 72 percent of the budget expenditures this year for the first quarter.

According to the data provided, Yena has fallen by approximately 20 percent of the dollar over the past 6 months. The Korean currency increased by 0.3 percent to 1.114.48 per dollar in Seoul.