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Korea to Spend More than Planned in Third Quarter

South Korea will advance more than $9 billion in fiscal spending originally set for the next quarter to the current quarter to spur the still-fragile economic recovery, the finance ministry said on Thursday.

The Ministry of Strategy and Finance said in a statement it would boost fiscal spending during the quarter to Sept. 30 to up to 55 trillion won ($44.25 billion) from the 43.6 trillion won originally planned.

It also said Asia's fourth-largest economy would maintain its recent growth pattern for the rest of the year, with a stronger-than-expected recovery in advanced economies likely to continue.