Why did the OECD raise Korea’s 2026 growth forecast to 3.7 percent?

The OECD said strong exports and rising production would drive Korea’s economic growth this year. It also said a gradual recovery in consumption would continue next year.

What other Korea growth forecasts did the OECD and other institutions publish on Wednesday?

The OECD also projected 2.6 percent growth for Korea in 2027 and inflation of 3 percent in 2026. Earlier the same day, the Asian Development Bank raised its 2026 forecast for Korea to 3.2 percent.

How much did the OECD change Korea’s 2026 and 2027 outlooks from its previous forecasts?

The 2026 growth forecast was raised by 1.1 percentage points from 2.6 percent to 3.7 percent. The 2027 forecast was increased by 0.7 percentage point from 1.9 percent to 2.6 percent.

OECD raises Korea's 2026 growth forecast to 3.7%

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Summary

The OECD raised Korea’s 2026 growth forecast to 3.7 percent on Wednesday, citing robust exports. The Paris-based organization also lifted its 2027 growth forecast to 2.6 percent and projected inflation at 3 percent in 2026. The Ministry of Finance and Economy said the OECD had reaffirmed Korea’s strong growth momentum with the largest forecast increase among G20 countries.

Key Facts

The OECD’s 2026 growth forecast for Korea rose by 1.1 percentage points from 2.6 percent in its June report to 3.7 percent.
The OECD projected Korea’s economy would grow 2.6 percent in 2027, up 0.7 percentage point from its previous forecast of 1.9 percent.
The OECD forecast Korea’s consumer prices to rise 3 percent in 2026 and 2.7 percent in 2027.
The OECD said strong exports and rising production would drive Korea’s growth this year, while a gradual recovery in consumption would continue next year.
Earlier on Wednesday, the Asian Development Bank raised its 2026 growth forecast for Korea to 3.2 percent, while the Ministry of Finance and Economy had raised its own 2026 forecast to 3 percent in July and the KDI lifted its outlook to 3.2 percent in August.

By Yonhap

Published Sep 23, 2026 5:13 pm KST

Containers boudn for exports are stacked at a port in Pyeongtaek, Gyeonggi Province, Sept. 6. Yonhap

The Organization for Economic Cooperation and Development (OECD) on Wednesday raised its 2026 economic growth forecast for Korea to 3.7 percent, citing the country's robust exports.

The Paris-based organization's latest projection marks a 1.1 percentage-point increase from the 2.6 percent forecast in its June report.

The OECD projected Asia's No. 4 economy would grow 2.6 percent in 2027, up 0.7 percentage point from its previous forecast of 1.9 percent.

"The OECD has reaffirmed Korea's strong growth momentum by raising its growth forecast by the largest margin among the Group of 20 countries," the Ministry of Finance and Economy said in a release on the report.

The OECD said strong exports and rising production would drive Korea's economic growth this year, while a gradual recovery in consumption would continue next year.

The OECD, meanwhile, projected Korea's consumer prices would rise 3 percent in 2026 from a year earlier, up 0.4 percentage point from its previous forecast.

Its inflation forecast for 2027 stood at 2.7 percent, up 0.5 percentage point from its previous projection.

Earlier in the day, the Asian Development Bank (ADB) raised its 2026 economic growth forecast for Korea to 3.2 percent from the 2.6 percent projected in July, citing strong exports and corporate earnings amid the artificial intelligence (AI) boom.

In July, the Ministry of Finance and Economy raised its 2026 growth forecast to 3 percent in its second-half economic policy report, up 1 percentage point from its previous outlook, citing the semiconductor supercycle.

In August, the state-run Korea Development Institute (KDI) raised its 2026 growth forecast for Korea to 3.2 percent from 2.5 percent.

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