Economy

South Korea's GDP rises 0.6%

Date of publication: July 23, 2026 12:38 KSA

In the second quarter of 2026

South Korea's economy grew by 0.6% in the second quarter of 2026 compared to the previous quarter, supported by strong exports despite ongoing tensions in the Middle East.

Data released by the Bank of Korea showed that real GDP rose during the period from April to June and exceeded previous expectations which had predicted growth of 0.2%. The bank attributed this positive performance to a 1.4% increase in exports compared to the previous quarter, while imports rose by 0.8%.

The data indicate that net exports contributed about 0.3 percentage points to quarterly growth, while private consumption added 0.2 percentage points. Government spending and facility investment each grew by 0.2%, while investment in the construction sector fell by 0.2%.