Korean economy defies won strength to return to growth


The South Korean economy grew by 0.9% in the first quarter of 2013, according to data released today, with exports leading the way despite a sharp rise in the value of its currency against the yen since the start of the year.

The rate of economic growth was Korea's best since the first quarter of 2011 and would at first sight appear to vindicate the central bank's current policy inaction, described as a "strictly do absolutely nothing" attitude by Société Générale analyst Klaus Baader, who is

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