Finance Minister Hong Nam-ki assessed on Tuesday that the South Korean economy posted positive growth in the third quarter on the back of exports. 

The minister presented the assessment in his opening remarks at a meeting of economy-related ministers in Seoul.

The Bank of Korea said earlier in the day that the country's real gross domestic product(GDP) grew one-point-nine percent in the July to September period from the previous quarter, when it contracted three-point-two percent. 

Minister Hong said that it is the largest on-quarter growth in ten years since the first quarter in 2010 when it marked two percent growth. 

He said it is encouraging that the economy has gotten on the recovery track as it returned to growth on the back of a quick recovery in exports. 

Hong added that improvement in South Korea's exports, boosted by economic recovery in China and other major economies, led to positive growth in the third quarter.