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South Korea Q2 Growth Beats Forecasts, BoK Raises Rate

7/24/2026

23 4 Full Breakdown

Summary

Story summary

South Korea’s economy expanded 0.6% in Q2, with year-on-year GDP up 3.7%, both beating median forecasts of 0.4% and 3.5%.
Exports grew 1.4% quarter-on-quarter, powered by a 163% surge in semiconductor shipments.
The Bank of Korea raised its policy rate by 25 basis points in July, its first hike since 2023.
Cho Yong-gu of Shinyoung Securities said the strong growth raises odds of another hike by October.

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Story summary

South Korea’s economy expanded 0.6% in Q2, with year-on-year GDP up 3.7%, both beating median forecasts of 0.4% and 3.5%.
Exports grew 1.4% quarter-on-quarter, powered by a 163% surge in semiconductor shipments.
The Bank of Korea raised its policy rate by 25 basis points in July, its first hike since 2023.
Cho Yong-gu of Shinyoung Securities said the strong growth raises odds of another hike by October.