Signalling an economic recovery and boom, South Korea’s economy grew by 2.6 percent in quarter ending Sep, 2015. This is the fastest growth experienced by this East Asian economy in over 3 quarters.
All this has been despite a slowdown in China, and an outbreak of MERS, which led to cancellations by tourists.
The growth was aided by a stimulus package by a quick thinking government, which reduced taxes, and added a public holiday, just to help increase purchasing by consumers.
The package valued at $ 20 Billion paid off, resulting in the biggest economic growth in South Korea in quite some time.
