Chip boom lifts Korea's income growth to 38-year high

South Korea's economy extended its growth in the second quarter, weathering oil price volatility sparked by conflict in the Middle East, as robust chip exports fueled the expansion.

According to preliminary data released by the Bank of Korea on Thursday, the country's real gross domestic product — a key gauge of economic growth — expanded 0.6 percent in the April-June period from the previous quarter, following a revised growth of 1.8 percent in the first months of this year.

"Although (gross d ...