Q3 GRDP Accelerates to 1.9% YoY South Korea’s gross regional domestic product grew 1.9% year‑over‑year in July‑September, a sharp jump from the 0.6% rise recorded in the previous quarter and the first quarterly increase above 1% since 2024. The Ministry of Statistics released the data, confirming a robust rebound in regional output. This acceleration signals renewed momentum in the nation’s broader economic cycle[1].

Exports of Semiconductors and Automobiles Lead Growth Export performance powered the GDP surge, with semiconductor, automobile and ship shipments climbing sharply. The ministry attributed the recovery to heightened global demand for high‑value manufactured goods, underscoring the sector’s pivotal role in the economy. These export gains offset weaknesses elsewhere and anchored the overall regional expansion[1].

Greater Capital Region Outpaces National Growth Output in the Greater Capital Region’s mining and manufacturing sectors jumped 7% year‑over‑year, driven primarily by semiconductor and electronic‑component production. This regional surge outstripped the nationwide GRDP rise of 1.9% and exceeded the average growth across all sectors. The data highlight the capital area’s disproportionate contribution to the country’s economic rebound[1].

Service Sector Expands While Construction Contracts The service sector expanded 2.2% year‑over‑year, buoyed by a 4.5% rise in wholesale and retail trade and gains in finance, insurance, accommodation and food services, which ended a nine‑quarter decline. In contrast, construction output fell 7.3% year‑over‑year, marking a sixth consecutive quarter of contraction, though the pace slowed from a 12.3% drop in Q1. The divergent trends illustrate uneven sectoral recovery within the economy[1].