(LEAD) S. Korea's nominal GDP grows at fastest pace in 47 years in Q2 | Yonhap News Agency

SEOUL, Sept. 8 (Yonhap) -- South Korea's nominal gross domestic product (GDP) grew at the fastest pace in 47 years in the second quarter, driven by strong exports and investment related to artificial intelligence (AI), central bank data showed Tuesday.

The country's real GDP -- a key measure of economic growth -- rose 0.6 percent in the April-June period from three months earlier, according to preliminary data from the Bank of Korea (BOK).

The on-quarter figure matched the BOK's earlier estimate released last month, but it revised up growth in construction investment and intellectual property investment by 0.1 percentage point each, while cutting government consumption growth by 0.1 percentage point.

Asia's fourth-largest economy contracted 0.1 percent in the fourth quarter of last year but rebounded 1.8 percent in the first quarter.

On a yearly basis, the economy expanded 3.7 percent in the second quarter, extending its growth momentum after expanding 3.8 percent on-year in the first quarter.

Containers are stacked at a port in the southeastern port city of Busan on Sept. 1, 2026. (Yonhap)

Exports advanced 1.3 percent from the previous quarter, supported by strong global demand for semiconductors, machinery and equipment. The figure slowed from a 5.9 percent increase in the first quarter.

Facility investment grew 0.2 percent and intellectual property investment gained 3.4 percent, while construction investment fell 0.1 percent.

Private consumption increased 0.4 percent, while government spending climbed 0.1 percent.

On a nominal basis, the country's GDP grew 9.2 percent in the three-month period that ended in June from three months earlier and expanded 26.4 percent from a year earlier, marking the sharpest growth since the third quarter of 1979, when the economy surged 27.7 percent on-year.

The central bank data also showed that the country's per capita gross national income (GNI) rose 8.8 percent on a nominal basis from a quarter earlier and 26.4 percent from a year earlier.

Real GNI rose 3.1 percent from a quarter earlier and 15.6 percent from a year earlier, marking the steepest growth since the fourth quarter of 1988, when real GNI jumped 15.7 percent on-year.

Based on the continuing growth momentum, the central bank earlier revised up its 2026 growth estimate to 3.3 percent, citing solid exports driven by the ongoing semiconductor super cycle.

Foreign tourists visit Gyeongbok Palace in downtown Seoul on Sept. 2, 2026. (Yonhap)

brk@yna.co.kr

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