South Korea’s economy expanded by 1.7% QoQ in the first quarter of 2026, recovering from a 0.2% contraction in the previous quarter, and surpassing the market estimate of 1.0% growth, preliminary data showed. It marked the strongest GDP growth since the first quarter of 2021, driven by solid exports and resilient domestic demand. Exports grew 5.1%, driven by IT items such as semiconductors, while imports rose at a more moderate pace of 3.0%. Private consumption increased 0.5%, supported by higher spending on goods, while government consumption edged up 0.1%, also driven by increased goods spending. Construction investment climbed 2.8%, as both building construction and civil engineering activity rose. Facilities investment grew 4.8%, due to higher spending on machinery and transportation equipment. On an annual basis, the economy grew 3.6% in Q1, accelerating from 1.6% in Q4, marking the fastest growth since the fourth quarter of 2021 and exceeding forecasts of 2.7%. source: The Bank of Korea

The Gross Domestic Product (GDP) in South Korea expanded 1.70 percent in the first 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 May of 2026.

The Gross Domestic Product (GDP) in South Korea expanded 1.70 percent in the first quarter of 2026 over the previous quarter. GDP Growth Rate in South Korea is expected to be 1.20 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
2026-03-09 11:00 PM
QoQ Final
Q4 -0.2% 1.3% -0.3% -0.3%
2026-04-22 11:00 PM
QoQ Adv
Q1 1.7% -0.2% 1% 0.3%
2026-06-08 11:00 PM
QoQ Final
Q1 -0.2% 0.3%


Related Last Previous Unit Reference
GDP Growth Rate YoY 3.60 1.60 percent Mar 2026
GDP Constant Prices 592530.60 582662.50 KRW Billion Mar 2026
GDP Growth Rate 1.70 -0.20 percent Mar 2026
Gross Fixed Capital Formation 157290.70 160825.20 KRW Billion Dec 2025
Gross National Product 590035.70 581942.60 KRW Billion Dec 2025


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
1.70 -0.20 7.80 -7.00 1960 - 2026 percent Quarterly
SA

News Stream
South Korea Q1 GDP Growth Strongest Since 2021
South Korea’s economy expanded by 1.7% QoQ in the first quarter of 2026, recovering from a 0.2% contraction in the previous quarter, and surpassing the market estimate of 1.0% growth, preliminary data showed. It marked the strongest GDP growth since the first quarter of 2021, driven by solid exports and resilient domestic demand. Exports grew 5.1%, driven by IT items such as semiconductors, while imports rose at a more moderate pace of 3.0%. Private consumption increased 0.5%, supported by higher spending on goods, while government consumption edged up 0.1%, also driven by increased goods spending. Construction investment climbed 2.8%, as both building construction and civil engineering activity rose. Facilities investment grew 4.8%, due to higher spending on machinery and transportation equipment. On an annual basis, the economy grew 3.6% in Q1, accelerating from 1.6% in Q4, marking the fastest growth since the fourth quarter of 2021 and exceeding forecasts of 2.7%.
2026-04-22
South Korea Q4 GDP Revised Upward to -0.2%
South Korea’s economy contracted by 0.2% QoQ in the three months to December 2025, compared with an earlier estimate of a 0.3% contraction and reversing a 1.3% expansion in Q3. It marked the first quarterly contraction since the first quarter of 2025, driven by softer domestic demand and a decline in non-semiconductor exports. Private consumption rose 0.3%, as spending on services increased while expenditures on goods declined. Government consumption grew 1.3%, supported by higher spending on health care benefits. Construction investment fell 3.5%, as both building construction and civil engineering activity declined. Facilities investment dropped 1.7%, led by lower spending on transportation equipment. Exports decreased 1.7%, weighed down by declines in motor vehicles and machinery & equipment. Imports fell 1.5%, reflecting lower purchases of natural gas and motor vehicles. On an annual basis, the economy expanded 3% in Q4, exceeding forecasts of 2.5%.
2026-03-09
South Korea Q4 GDP Unexpectedly Contracts
South Korea’s economy contracted by 0.3% QoQ in the three months to December 2025, reversing a 1.3% expansion in Q3 and missing expectations for a 0.1% increase. It marked the sharpest quarterly contraction in three years, driven by weakening domestic demand and a 1% decline in non semiconductor exports. Private consumption rose 0.3%, supported by higher spending on services such as healthcare, though goods consumption fell, led by motor vehicles. Government consumption increased 0.6%, mainly reflecting higher healthcare benefit outlays. Construction investment dropped 3.9%, with both building construction and civil engineering weakening, while facilities investment fell 1.8% due to lower spending on transportation equipment. Exports declined 2.1%, dragged down by motor vehicles and machinery and equipment, while imports fell 1.7% amid lower purchases of natural gas and motor vehicles. On a year on year basis, the economy expanded 1.5% in Q4, undershooting forecasts of 1.8%.
2026-01-21