South Korea's economy slowed down sharply in the third quarter thanks to weaker exports, its central bank says.
The country's output in the three months to September was 0.7% higher than the previous quarter - half the 1.4% growth rate of the second quarter.
Exports rose only 1.9%, down from a 7% rate in the spring, thanks to a strengthening of the won and weak demand in the US and Europe.
Domestic demand picked up some of the slack, with private spending up 1.3%.
But manufacturing also slowed in the three-month period, according to the data released by the Bank of Korea.
"The Korean economy is slowing on a slackening global economy, but I don't think the slowdown in Korea is so serious," said Im No-Jung, economist at Solomon Investment and Securities.
Kim Myung-kee, of the central bank's statistical office, said: "Our economy has been sustaining domestic demand-led growth, driven by durable goods."
He added that he did not expect exports to be hurt by the recent strength of the currency.
But some analysts say that a recovery in European and US export demand will be a key variable for South Korean growth next year.
The figures were in line with market expectations, and analysts continue to predict that the central bank will raise interest rates by a quarter percentage point next month.
Inflation is expected by the central bank to accelerate to 3.4% this year.
It was South Korea's seventh consecutive quarter of positive growth since the global recession, but its second quarter in a row of slowing growth.
On an annualised basis, growth at Asia's fourth largest economy remained strong in the third quarter, up 4.5% on a year earlier.
The IMF expects South Korea's economy to grow by 6.1% over 2010 as a whole.