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.

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%.

South Korea’s economy advanced by 1.8% QoQ in the first quarter of 2026, exceeding the preliminary estimate of 1.7% and rebounding from a downwardly revised 0.1% contraction in the fourth quarter of 2025. It was the strongest GDP growth since the first quarter of 2021, driven by solid exports and resilient domestic demand. Exports grew 5.9%, driven by IT products such as semiconductors, while imports rose at a more moderate pace of 3.9%. Private consumption increased 0.6%, supported by higher spending on both goods and services, while government consumption fell 0.4%. Construction investment climbed 1.4%, as both building construction and civil engineering activity increased. Facilities investment advanced 6.6%, supported by higher spending on machinery and transportation equipment. On a yearly basis, the economy expanded 3.8% in Q1, above the preliminary estimate of 3.6%, and accelerated from 1.6% in Q4 2025, marking the fastest growth since the fourth quarter of 2021.