South Korea GDP Growth Rate

Last Release

Jun 30, 2025

Actual

0.6

Units In

-0.2

Frequency

Quarterly

Next Release

Sep 02, 2025

Time to Release

1 Months 9 Days 22 Hours

Highest	Lowest	Average	Date Range	Source
7.8 Dec 1970	-7 Mar 1998	1.66 %	1960-2025	The Bank of Korea

South Korea has an export oriented economy and is the world's leading producer of displays and memory semiconductors and the second largest producer of ships. Services account for the highest percentage of GDP (around 57 percent of GDP). Within services the most important ones are public administration (6 percent ); education (5.3 percent); information and communication (5 percent); and business activities (4.6 percent of GDP). A strong manufacturing industry which has turned South Korea into a major exporter accounts for 32 percent of GDP.

Latest Updates

South Korea’s economy grew 0.6% quarter-on-quarter in Q2 2025, rebounding from a 0.2% contraction in Q1 and surpassing market forecasts of 0.5%, according to advanced estimates. Private consumption rose 0.5%, supported by higher spending on goods like motor vehicles and services such as recreation and culture. Government consumption increased 1.2% on the back of expanded health care benefits. However, construction investment declined 1.5%, with both building and civil engineering activity falling, while facilities investment also dropped 1.5% amid reduced purchases of machinery and transport equipment. Exports rose 4.2%, driven by semiconductors, petroleum products, and chemicals, while imports climbed 3.8%, mainly due to stronger demand for energy items like crude oil and natural gas.