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South Korea Raises 2026 Growth to 3% With AI Drive

7/14/2026

Summary

South Korea Raises

South Korea raised its 2026 GDP growth forecast to 3.0% and plans AI mega projects in semiconductors, data centres and AI.
June exports rose 70.9% YoY to $102.25 billion, lifting H1 exports 48.4% to $496.7 billion, while semiconductor prices jumped over 100% each month March-May.
Nominal GDP growth forecast rose to 12.3% for 2026, inflation 2.6% in 2026 and 2.2% in 2027, and 2027 budget exceeds 800 trillion won ($532.73 billion) for AI projects.

Summary

Koo Presents Strategy

Deputy Prime Minister Koo Yun-cheol presented the Economic Growth Strategy, projecting a 2026 current account surplus of $290 billion, above the January forecast of $135 billion.
Exports are expected to rise 40 % and imports 20 %, while employment growth is forecast at 150,000 jobs with the unemployment rate steady at 63.0 %.
President Lee Jae-myung urged a growth ladder for youth, calling for reforms in housing, assets, jobs, public-institution finances, regulations and labor-market gaps.

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South Korea Raises

South Korea raised its 2026 GDP growth forecast to 3.0% and plans AI mega projects in semiconductors, data centres and AI.
June exports rose 70.9% YoY to $102.25 billion, lifting H1 exports 48.4% to $496.7 billion, while semiconductor prices jumped over 100% each month March-May.
Nominal GDP growth forecast rose to 12.3% for 2026, inflation 2.6% in 2026 and 2.2% in 2027, and 2027 budget exceeds 800 trillion won ($532.73 billion) for AI projects.

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