According to data released by the Bank of Korea (Central Bank) on Oct. 27, South Korea's GDP increased by 1.9% quarter-on-quarter in the third quarter in preliminary estimate, a rebound from -2.7% growth in the second quarter and a year-on-year decrease of 1.3%. Due to the epidemic, South Korea’s economy experienced negative growth for two consecutive quarters in the first half of the year, and the second quarter also hit the lowest level since the fourth quarter of 2008. Although the economic growth in the third quarter was due to factors such as the low base in the first two quarters, it is expected that the economic grow will improve in the second half of year. Among them, exports, mainly automobiles and semiconductors, increased by 15.6% month-on-month, far exceeding the -16.6% set in the second, the lowest since the fourth quarter of 1963. Imports, mainly crude oil and chemical products, increased by 4.9% and investment in equipment increased by 6.7%. Household consumption fell by 0.1% and construction investment fell by 7.8%. By sector, the output of manufacturing and services rose by 7.6% and 0.7%, respectively. In the service sector, health care and social welfare grew by 3.8%, transportation by 3.3%, both higher than GDP growth, and finance and insurance by 1.9%. Hydropower and coal fell by 7.4% and construction fell by -5.5%. In addition, real gross domestic income (GDI) grew by 2.5%, faster than GDP.