OECD and ADB Raise South Korea’s 2026 Growth Outlook

South Korea’s growth outlook has improved sharply: the OECD now expects the economy to expand 3.7% in 2026, up from its 2.6% forecast in June, while the Asian Development Bank projects 3.2%. Both forecasts point to stronger growth this year followed by a slowdown in 2027. OECD September outlook · OECD June outlook · ADB announcement

Exports lift the near-term forecast

The OECD’s revision adds 1.1 percentage points to its June estimate. Its September outlook attributes the stronger forecast to industrial production and export growth, including a substantial boost in technology exports for Korea’s semiconductor industry. That gives the upgrade a clear driver, while leaving its reach across the wider economy an open question. OECD September outlook · OECD June outlook

Growth is expected to ease next year

The ADB forecasts 2.3% growth in 2027, and the OECD projects 2.6%. The OECD expects more modest private consumption growth to temper Korea’s expansion. The forecasts therefore describe a strong export-led year, rather than a sustained acceleration at this year’s pace. ADB announcement · OECD September outlook

By the Numbers