The Korean economy grew by 1.0% in the third quarter of this year, marking an acceleration in growth compared to the previous quarter. The growth rate exceeded expectations, bringing a full-year growth rate of 3.7% within reach for this year. The government stated that it is virtually certain that per capita GNI (Gross National Income) will enter the $40,000 range this year.
According to the "Preliminary Estimate of Real GDP (gross domestic product) for Q3 2026" released by the Bank of Korea on the 27th, real GDP grew by 1.0% quarter-on-quarter (same basis hereinafter). Year-on-year, it increased by 3.4%. Lee Dong-won, Director of the Economic Statistics Division 2 at the Bank of Korea, stated, "Even if the growth rate remains at 0% in the fourth quarter, annual growth will be 3.6%, and if it grows by more than 1.4%, an annual growth rate of 4% is arithmetically possible."
Real GDI (Gross Domestic Income) for the third quarter increased by 3.4%, significantly surpassing the real GDP growth rate. Year-on-year, it rose by 18.8%, recording the highest growth rate in 48 years and 9 months since Q4 1977 (19.0%).
in ECONOMY
