South Korean Ministry of Finance raises GDP growth forecast for 2026 to 3%

The South Korean Ministry of Finance raised its GDP growth forecast for 2026 to 3% on Tuesday, which is higher than the consensus of 2.6% by the IMF, OECD, and ADB. Lee Hyoung il, the First Deputy Minister of Finance of South Korea, stated that the adjustment is based on factors such as the semiconductor industry super cycle and the easing of uncertainty in the Middle East region.