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South Korea Raises 2026 Economic Growth Forecast to 12.3% on Chip Boom and Export Surge

GateNews
Indices
According to South Korea's Finance and Economy Ministry, the government raised its economic growth forecasts on July 14, projecting nominal growth of 12.3% and real growth of 3.0% for 2026. The upward revisions, of 7.4 and 1.0 percentage points respectively from January forecasts, reflect unprecedented semiconductor demand and strong export performance through June, when the country shipped $102.2 billion in goods. If realized, real growth would mark the fastest pace in five years, and nominal growth would reach its highest level in 30 years. The government outlined plans to accelerate three major mega-projects—semiconductor expansion, AI data centers, and physical AI—while managing inflation, currency, and interest rate risks.
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