South Korea sees highest quarterly growth in 47 years

South Korea's central bank data showed that the South Korean economy experienced a record-breaking growth in the second quarter of 2026, marking the fastest rate in 47 years, driven by strong exports of products related to AI applications. Real GDP increased by 0.6% compared to the first quarter, with exports rising by 1.3% quarter-over-quarter, due to global demand for semiconductors and equipment. The bank confirmed that ongoing economic growth has led to an upward revision of the 2026 growth forecast to 3.3%, with the economy needing a growth rate of between 0.2% and 0.3% in the second half to meet this target.

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