Fri, 25 Jun 2021

SEOUL, June 11 (Xinhua) -- South Korea's economy saw an improved domestic demand and an export recovery in recent months, reflecting an economic turnaround from the COVID-19 pandemic shock, a government report said Friday.

The Ministry of Economy and Finance said in its monthly economic report, called Green Book, that the South Korean economy recently saw a solid recovery in export and investment while the improvement in domestic demand lasted amid a spike in employment for two straight months.

The report mentioned the domestic demand improvement for the second consecutive month, indicating the recent economic recovery spreading to the domestic front.

Credit card spending expanded 6.8 percent in May from a year earlier, keeping an upward trend for four months in a row.

Revenue among department stores surged 17.3 percent last month, and revenue among online retailers soared 48.4 percent.

Sentiment among consumers over economic situation continued to gain for the first five months of this year.

Export jumped 45.6 percent in May from a year earlier, after spiking 41.2 percent in the previous month. The number of jobs advanced 619,000 in May on a yearly basis, after increasing 652,000 in April.

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