WAM
24 Sep 2026, 03:34 GMT+10
SEOUL, 24th September, 2026 (WAM) -- The Organisation for Economic Cooperation and Development (OECD) on Wednesday raised its 2026 economic growth forecast for South Korea to 3.7%, citing the country's robust exports.
The Paris-based organisation's latest projection marks a 1.1 percentage-point increase from the 2.6 percent forecast in its June report.
The OECD projected Asia's No. 4 economy would grow 2.6% in 2027, up 0.7 percentage point from its previous forecast of 1.9%.
"The OECD has reaffirmed South Korea's strong growth momentum by raising its growth forecast by the largest margin among the Group of 20 countries," the Ministry of Finance and Economy said in a release on the report, carried by Yonhap.
The OECD said strong exports and rising production would drive South Korea's economic growth this year, while a gradual recovery in consumption would continue next year.
The OECD, meanwhile, projected South Korea's consumer prices would rise 3% in 2026 from a year earlier, up 0.4 percentage point from its previous forecast.
Its inflation forecast for 2027 stood at 2.7%, up 0.5 percentage point from its previous projection.
Get a daily dose of Milwaukee Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Milwaukee Sun.
More InformationWARSAW, Poland: Polish authorities have charged a teenager linked to neo-Nazi groups with offenses related to the alleged preparation...
MOSCOW, Russia: Russia launched a major overnight missile and drone attack on Ukraine on September 22, killing four people and damaging...
WASHINGTON, D.C.: The administration of U.S. President Donald Trump is preparing sanctions against the International Criminal Court...
RIYADH/DUBAI: Fighting in Yemen has intensified as Houthi forces move to capture strategic mountain positions that could help them...
BEIJING/WASHINGTON, D.C.: Chinese President Xi Jinping is due to visit Washington this week for a September 24 meeting with U.S. President...
JAKARTA, Indonesia: Indigenous and civil-society groups in Indonesia's West Kalimantan province have filed a class-action lawsuit against...
BEIJING/WASHINGTON, D.C.: Chinese President Xi Jinping is due to visit Washington this week for a September 24 meeting with U.S. President...
(Photo credit: Kirthmon F. Dozier) Major League Baseball restructured its ownership rules this past summer allowing private equity...
(Photo credit: Jayne Kamin) Shohei Ohtani is expected to be back in the starting lineup Wednesday, Yoshinobu Yamamoto will be on...
(Photo credit: Brad Penner) The Tampa Bay Rays enjoyed a somewhat raucous celebration Tuesday night and are setting their sights...
(Photo credit: Brett Davis) Chris Sale will get his final tuneup before the postseason when he takes the mound for the Atlanta Braves...
(Photo credit: Brett Davis) Aaron Nola's turnaround is a big reason why the Philadelphia Phillies are on the verge of clinching a...
