South Korea's economic growth expanded last year on the back of strong exports, surpassing the three percent mark for the first time since 2014.
According to the Bank of Korea on Thursday, South Korea's economy grew three-point-one percent in 2017, up from two-point-eight percent in 2016.
But the country's economy contracted zero-point-two percent on-quarter in the final quarter of 2017, slowing from bumper growth of one-point-five percent in the third quarter, the fastest expansion in seven years.
On top of the strong base effect, the Bank of Korea said fewer working days over the extra-long Chuseok holiday held back industrial production.