How much did Korea’s GDP grow in the third quarter of 2026, and how did it compare with the BOK’s projection?

Real GDP rose 1 percent in the July-September period from the previous quarter, according to preliminary Bank of Korea data. That was higher than the BOK’s projection of 0.3 percent for the quarter.

What drove Korea’s third-quarter 2026 economic growth?

Exports increased 2.3 percent, mainly on shipments of semiconductors, machinery and electrical equipment. Facilities investment rose 4.1 percent, with increased spending on machinery including semiconductor manufacturing equipment.

How did Korea’s quarterly economic growth change from late 2025 through the third quarter of 2026?

The economy contracted 0.1 percent in the fourth quarter of 2025, then grew 1.8 percent in the first quarter of 2026 and 0.6 percent in the second quarter. Growth reached 1 percent in the third quarter.

BreakingKorea's economy grows 1% in Q3 on chip exports, beating forecasts

Listen

Summary

Korea’s economy expanded 1 percent in the third quarter from the previous quarter, in Korea, in the July-September period, the Bank of Korea said Tuesday. The growth exceeded the central bank’s 0.3 percent projection and was driven by semiconductor- and machinery-led exports. The stronger result puts the economy on firmer footing to meet the BOK’s 3.3 percent growth forecast for the year.

Key Facts

Facilities investment increased 4.1 percent, mainly as investment in machinery, including semiconductor manufacturing equipment, rose.
Investment in intellectual property products grew 2.3 percent as spending on research and development and software increased.
Exports rose 2.3 percent, led by semiconductors, machinery and electrical equipment, while imports increased 2.4 percent, led by crude oil and semiconductor manufacturing equipment.
Quarterly growth moved from a 0.1 percent contraction in the fourth quarter of 2025 to 1.8 percent growth in the first quarter, then 0.6 percent in the second quarter.

By Lee Hyo-jin

Published Oct 27, 2026 8:01 am KST

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

Korea's economy expanded 1 percent in the third quarter from the previous quarter, extending its stronger-than-expected recovery on the back of booming semiconductor exports, the Bank of Korea (BOK) said Tuesday.

Preliminary data from the central bank showed that real gross domestic product (GDP) rose 1 percent in the July-September period, exceeding the BOK's own projection of 0.3 percent for the quarter.

Facilities investment rose 4.1 percent, mainly on increased investment in machinery, including semiconductor manufacturing equipment. Investment in intellectual property products grew 2.3 percent as spending on research and development and software increased.

Exports grew 2.3 percent, driven mainly by semiconductors and machinery and electrical equipment. Imports rose 2.4 percent, led by increases in crude oil and semiconductor manufacturing equipment.

The stronger-than-expected growth puts the economy on a firmer footing to meet the BOK's growth forecast of 3.3 percent for this year, released in August.

The country's quarterly growth rebounded sharply from a 0.1 percent contraction in the fourth quarter of 2025 to 1.8 percent in the first quarter, before expanding 0.6 percent in the second quarter, also beating expectations.

Explore More