Korea’s Q1 GDP surges, but warnings issued
South Korea grew a faster-than-expected 5.3% in the first quarter due to strong exports, the central bank said Friday while warning that high oil prices and a slowing China may pose a threat to the economy. It was the highest quarterly Gross Domestic Product (GDP) growth rate since the fourth quarter of 2002 when GDP grew 7.5% year-on-year, the Bank of Korea said in a statement.