South Korea's economy, the fourth-largest in Asia, expanded less than originally estimated in the second quarter, dpa cited the central bank as saying Thursday. Its gross domestic product (GDP) rose 0.3 per cent from the previous quarter, compared with an estimate in July of 0.4 per cent, the Bank of Korea said. First-quarter growth was 0.9 per cent. On a year-by-year basis, GDP expanded 2.3 per cent in the second quarter, lower than the original 2.4-per-cent estimate. The revisions would put pressure on the bank to reduce interest rates and implement other stimulus measures to help South Korea's export-reliant economy, which has seen its shipments fall because of the eurozone debt crisis and global economic uncertainty. Exports fell 1.4 per cent in the second quarter from the first quarter while capital spending fell 7 per cent, the bank said.
