The Korean economy grew in the one-percent range in the third quarter of this year, marking two straight quarters of consecutive growth and boosting hopes of a sustained recovery.
The Bank of Korea on Friday said the economy grew 1.1 percent from the previous quarter in the July to September period.
Growth had been less than one percent since the second quarter of 2011 due to the global recession.
Compared to the same period of 2012, third-quarter GDP growth stood at 3.3 percent, the highest in seven quarters.
Private consumption, which rose at the highest rate in three years, played a pivotal role. Consumers opened their wallets enticed by bargain prices across the nation, while prices of agricultural products stabilized as well.
But economists warn of risks ahead. Oh Suk-tae at SG Securities said the government's fiscal ability has "reached its limit," and investment in construction looks flat. Oh warned that third-quarter growth could end up short-lived if exports fail to turn around.