OECD Raises South Korea's 2026 Economic Growth Forecast to 3.7%

The Organisation for Economic Cooperation and Development (OECD) raised its 2026 economic growth forecast for South Korea to 3.7%, noting a 1.1 percentage-point increase from the previous forecast of 2.6% in its June report. The OECD projected that South Korea, Asia's fourth economy, would grow 2.6% in 2027, up from the previous projection of 1.9%. The OECD noted that strong exports and rising production would drive growth in 2026, while a gradual recovery in consumption would continue into 2027. Furthermore, the OECD projected consumer prices would rise 3% in 2026 from a year earlier, with the inflation forecast for 2027 set at 2.7%.

The Ministry of Finance and Economy commented on the OECD report, noting that the growth forecast was the largest margin increase among the Group of 20 countries. The projections regarding exports, production, and consumer prices provide key indicators for business planning and trade expectations.