South Korea's finance ministry on Tuesday raised its 2026 GDP growth forecast to 3%, one percentage point higher than its prior estimate, citing a semiconductor-sector "supercycle" and eased Middle East-related uncertainty. The revision, published in the ministry's H2 2026 economic policy plan, is above the IMF/OECD/ADB consensus of 2.6%. First Vice Minister Lee Hyoung-il said other agencies relied on March–April data, while the ministry's assessment uses more recent data showing export strength

South Korea's finance ministry on Tuesday raised its 2026 GDP growth forecast to 3%, one percentage point higher than its prior estimate, citing a semiconductor-sector "supercycle" and eased Middle East-related uncertainty. The revision, published in the ministry's H2 2026 economic policy plan, is above the IMF/OECD/ADB consensus of 2.6%. First Vice Minister Lee Hyoung-il said other agencies relied on March–April data, while the ministry's assessment uses more recent data showing export strength driven by the semiconductor boom and further easing in Middle East tensions.