South Korea's economy expanded in nominal terms at its fastest annual pace in nearly 47 years in the second quarter, with nominal gross domestic product rising 26.4% in the April-June period from a year earlier, the sharpest increase since the third quarter of 1979. This surge, driven by a semiconductor-led export boom, was reported by the Bank of Korea on Tuesday. Output for the quarter reached 834.9 trillion won ($622 billion), up 9.2% from the first quarter.