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South Korea's economy, helped by government stimulus spending and record-low interest rates, expanded at the fastest pace in almost six years last quarter. The central bank said today that gross domestic product increased by 2.3 % from the first quarter, when the nation skirted a recession by growing 0.1 %. That compared with the median estimate of 2.2 % in a Bloomberg survey and was the fastest since a 2.6 % expansion in the last quarter of 2003.

South Korean Daewoo Electronics Corp announced it would be picking potential buyers for its TV, air conditioner, vacuum cleaner and electronics businesses by April 22, in line with its restructuring to focus on appliances.

CEO Lee Sung did not disclose the potential bidders, but he said there was one foreign investor among those who submitted letters. The businesses on sales can be purchased separately or as a package.