South Korea’s economy grew by 1% quarter-on-quarter in the third quarter of 2026, surpassing expectations of 0.7% and accelerating from a 0.6% expansion in the previous quarter, preliminary estimates showed. Exports and investment were the key drivers of overall growth, as the global investment in AI sustained demand for semiconductors. Exports rose 2.3%, led by semiconductors, machinery and electrical equipment, while imports grew 2.4%. Facility investment jumped 4.1%, mainly reflecting increased spending on machinery, including semiconductor manufacturing equipment. Construction investment also returned to growth, rising 0.7% as civil engineering activity improved, while government consumption increased 1.9%. By contrast, private consumption fell 0.2%, the first decline in nearly four years as spending on both goods and services decreased. On a yearly basis, the economy expanded by 3.4%, slowing from a 3.7% growth in the second quarter but exceeded forecasts for a 3% increase. source: The Bank of Korea

The Gross Domestic Product (GDP) in South Korea expanded 1 percent in the third quarter of 2026 over the previous quarter. GDP Growth Rate in South Korea averaged 1.65 percent from 1960 until 2026, reaching an all time high of 7.80 percent in the fourth quarter of 1970 and a record low of -7.00 percent in the first quarter of 1998. This page provides - South Korea GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2026.

The Gross Domestic Product (GDP) in South Korea expanded 1 percent in the third quarter of 2026 over the previous quarter. GDP Growth Rate in South Korea is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea GDP Growth Rate is projected to trend around 0.40 percent in 2027 and 0.50 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-07 11:00 PM
QoQ Final
Q2 0.6% 1.8% 0.6% 0.6%
2026-10-26 11:00 PM
QoQ Adv
Q3 1% 0.6% 0.7% 0.9%
2026-12-08 11:00 PM
QoQ Final
Q3 0.6% 1%


Related Last Previous Unit Reference
GDP Growth Rate YoY 3.40 3.70 percent Sep 2026
GDP Constant Prices 606288.10 600474.90 KRW Billion Sep 2026
GDP Growth Rate 1.00 0.60 percent Sep 2026
Gross Fixed Capital Formation 168051.20 164429.00 KRW Billion Sep 2026
Gross National Product 658868.00 624001.30 KRW Billion Jun 2026


South Korea GDP Growth Rate
South Korea has an export oriented economy and is the world's leading producer of displays and memory semiconductors and the second largest producer of ships. Services account for the highest percentage of GDP (around 57 percent of GDP). Within services the most important ones are public administration (6 percent ); education (5.3 percent); information and communication (5 percent); and business activities (4.6 percent of GDP). A strong manufacturing industry which has turned South Korea into a major exporter accounts for 32 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
1.00 0.60 7.80 -7.00 1960 - 2026 percent Quarterly
SA

News Stream
South Korea Q3 GDP Growth Stronger Than Expected
South Korea’s economy grew by 1% quarter-on-quarter in the third quarter of 2026, surpassing expectations of 0.7% and accelerating from a 0.6% expansion in the previous quarter, preliminary estimates showed. Exports and investment were the key drivers of overall growth, as the global investment in AI sustained demand for semiconductors. Exports rose 2.3%, led by semiconductors, machinery and electrical equipment, while imports grew 2.4%. Facility investment jumped 4.1%, mainly reflecting increased spending on machinery, including semiconductor manufacturing equipment. Construction investment also returned to growth, rising 0.7% as civil engineering activity improved, while government consumption increased 1.9%. By contrast, private consumption fell 0.2%, the first decline in nearly four years as spending on both goods and services decreased. On a yearly basis, the economy expanded by 3.4%, slowing from a 3.7% growth in the second quarter but exceeded forecasts for a 3% increase.
2026-10-26
South Korea Q2 GDP Growth Confirmed at 0.6%
South Korea’s economy advanced 0.6% QoQ in the second quarter of 2026, confirming preliminary estimates but easing from 1.8% growth in the first quarter, which was the strongest quarterly expansion since Q1 2021. GDP growth was mainly driven by robust exports, which offset downward pressure from the lingering conflict in the Middle East. Exports rose 1.3%, boosted by IT products such as semiconductors and machinery and equipment, while imports increased at a softer rate of 0.7%. Private consumption climbed 0.4%, supported by higher spending on both goods and services, while government consumption edged up 0.1%. Investment in intellectual property products grew by 3.4%, while facility investment advanced 0.2%. By contrast, construction investment inched down 0.1% as civil engineering activity declined. On a yearly basis, the economy advanced 3.7% in Q2, easing from a 3.8% expansion in Q1, which marked the fastest annual growth since Q4 2021.
2026-09-07
South Korea Q2 GDP Growth Beats Estimates
South Korea’s economy expanded by 0.6% QoQ in the second quarter of 2026, surpassing expectations of 0.4% but slowing from 1.8% growth in the first quarter, which was the strongest quarterly expansion since Q1 2021, preliminary estimates showed. GDP growth was mainly driven by robust exports, which offset downward pressure from the lingering conflict in the Middle East. Exports grew 1.4%, driven by IT products such as semiconductors and machinery equipment, while imports rose at a softer rate of 0.8%. Private consumption climbed 0.4%, supported by higher spending on both goods and services, while government consumption rose 0.2%. Investment in intellectual property products grew by 3.3%, while facility investment advanced 0.2%. By contrast, construction investment fell 0.2% as civil engineering activity declined. On a yearly basis, the economy grew 3.7% in Q2, easing from 3.8% in Q1, which marked the fastest annual growth since Q4 2021, while remaining above market estimates of 3.5%.
2026-07-22