Aju Business Daily

The pace of South Korea's economic recovery slowed in the last quarter of 2014, the central bank said on Friday.

According to the Bank of Korea (BOK), the country's gross domestic product (GDP) grew 0.4 percent in the fourth quarter last year from the previous July-September period, the lowest since the third quarter of 2012.

Economic recovery gained momentum in the third quarter of 2014 with a 0.9 percent growth after slowing down to 0.5 percent in the previous quarter.

The BOK said that because of the lower-than-expected growth in the last quarter, the country's economy grew 3.3 percent on-year in 2014.