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The Korean economy grew three percent last year,... accelerating from an earlier estimate
of two-point-eight percent. Korea's per capita gross national income also
stood at over 26-thousand U.S. dollars,... up more than six percent from 2012.
Hwang Ji-hye has the details. Korea's central bank said Wednesday...
that the nation's economy expanded 3 percent in 2013... from a year earlier.
That is faster than the bank's earlier estimate of 2-point-8 percent.
The Bank of Korea said robust exports and a steady rise in consumer spending drove the
higher than estimate performance,... despite sluggish facilities investment.
Last year's economic growth also outpaced the 2-point-3 percent recorded in 2012.
The upward revision comes with a caveat, however, as the nation's central bank recently adopted
new international standards on calculating gross domestic product.
Under the new standards,... the bank changed the base year to 2010 from 2005... and included
contributions from new sectors, like research and development, to the nation's gross domestic
product. Korea's gross national income,... a gauge
of the people's purchasing power,... also rose 4 percent in 2013 from the previous year.
The per capita GNI stood at over 26-thousand U.S. dollars last year,... up from around
24-thousand in 2012. Korea's gross savings rate finished at around
34 percent last year,... up zero-point-2 percentage points from the previous year.
The nation's gross investment rate, however, dropped 2-percentage points to slightly less
than 29 percent. Hwang Ji-hye, Arirang News.