The Bank of Korea is expected to raise its 2026 growth outlook to over 3 percent, experts said Sunday, citing stronger-than-expected semiconductor exports and recovering domestic demand. A Yonhap survey of six analysts put the revised forecast as high as 3.4 percent, above the BOK’s current 2.6 percent. Experts also expected the central bank to keep its inflation estimate at 2.7 percent. They said the account surplus forecast could also be lifted from $250 billion.
Workers load semiconductor products onto a cargo plane bound for exports at Incheon International Airport, July 30. Joint Press Corps
The Bank of Korea (BOK) is expected to raise its growth outlook for the Korean economy this year to over 3 percent, economic experts here said Sunday, citing stronger-than-expected semiconductor exports and recovering domestic demand.
According to a recent survey on six economic analysts conducted by Yonhap News Agency, respondents expect the BOK to revise its 2026 growth outlook from the current 2.6 percent to as high as 3.4 percent.
"Given the stronger-than-expected exports led by semiconductors, increased government expenditure driven by higher tax revenues and a rebound in domestic demand, the country is likely to achieve economic growth of around 3 percent this year," said Ahn Jae-kyun, an analyst at Korea Investment & Securities., putting this year's economic growth outlook at 3.2 percent.
