How will South Korea change the timing and format of its economic growth forecasts from 2027?

The government plans to issue three outlooks annually instead of two. It will stop publishing a separate second-half economic growth strategy and instead prepare supplementary measures to address economic conditions when it releases forecasts.

Why is South Korea increasing the number of economic forecasts it issues each year?

Finance Minister Lee Hyoung-il said more frequent outlooks would help the government respond promptly to changing conditions at home and abroad. He described the change as part of efforts to pursue sustainable growth while addressing disparities.

Gov't to release growth forecasts 3 times per year: finance minister

Q: When will South Korea announce details of its new economic forecast system?

The government plans to announce the details in December, after discussions with relevant ministries. The new system is scheduled to begin in 2027.

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Summary

The South Korean government will issue economic growth forecasts three times a year starting in 2027, Finance Minister Lee Hyoung-il said Wednesday, to respond more proactively to changing conditions at home and abroad. The revised system will replace a separate second-half growth strategy with supplementary measures announced alongside forecasts. Details are expected in December after discussions with relevant ministries.

Key Facts

The change will be the first adjustment to the number of annual economic outlooks in 32 years.
Lee said the government plans to address disparities as part of its strategy for sustainable growth.
The government will continue initiatives including three megaprojects to maintain current growth momentum.

By Yonhap

Published Nov 11, 2026 9:58 am KST

Finance Minister Lee Hyoung-il speaks during a meeting in Seoul, Wednesday. Yonhap

Korea's top economic policymaker said Wednesday the government will release annual economic growth forecasts three times a year starting in 2027, up from the current two, to respond more proactively to changing economic conditions.

Finance Minister Lee Hyoung-il made the announcement as he discussed details of the government's economic growth strategy for next year with relevant ministers, indicating the plan will seek sustainable growth by addressing disparities.

"In order to promptly respond to the changing environment at home and abroad, the government will increase the number of economic outlooks issued from two to three, which would mark the first change in 32 years," Lee said.

Lee said the government will no longer release a separate economic growth strategy for the second half of the year under the revised system, but will instead draw up supplementary measures to address economic conditions when it announces its growth forecasts.

The finance minister said details will be announced in December following discussions with relevant ministries.

During the meeting, Lee added that the government will continue efforts to maintain the current growth momentum through flagship initiatives, including the three megaprojects.

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