South Korea’s Nominal GDP Grows at Fastest Pace in 47 Years in Q2
South Korea’s nominal gross domestic product (GDP) experienced its fastest growth in 47 years during the second quarter, driven by robust artificial intelligence (AI)-related exports. According to preliminary data from the Bank of Korea (BOK), the country is on track to achieve a per capita gross national income (GNI) of US$40,000.
The real GDP, a key indicator of economic health, increased by 0.6% in the April-June period compared to the previous quarter, matching the BOK’s earlier estimate. The construction and intellectual property investments were revised upward by 0.1% each, while government consumption growth was slightly adjusted downward by 0.1%.
Following a contraction of 0.1% in the fourth quarter of 2025, Asia’s fourth-largest economy bounced back with a 1.8% expansion in the first quarter of 2026. On an annual basis, the economy grew by 3.7% in Q2, continuing its positive trajectory after a 3.8% year-on-year increase in Q1.
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