The growth rate has stayed below 1 percent since the fourth quarter last year mainly due to sluggish private consumption, the Bank of Korea (BOK) said.
Private consumption fell 0.3 percent on-year in the second quarter, it said.
The country's gross domestic product (GDP) expanded 3.6 percent in the April-June period from the same period last year, a drop from a 3.9 percent on-year growth in the previous quarter, the BOK said.
The government plans to take an expansionary macroeconomic policy until an economic recovery is assured, the Ministry of Strategy and Finance said.
To this end, more than 41 trillion won will be used, the ministry said.
reporter
Park Sae-jin
swatchsjp@ajunews.com
