[GDP Impact] Negative Output Gap May Close in H2 - Potential Grounds for Rate Hike This Year

South Korea's first-quarter GDP surged 1.7% quarter-on-quarter, the strongest growth since Q3 2020, raising annual growth forecasts to the low-to-mid 2% range and potentially paving the way for a Bank of Korea rate hike as the negative output gap may close in the second half of this year.