Overview

• Manufacturing and mining output rose 7.6% on increased coal, metal and heavy-chemical production, according to the estimate.
• Construction jumped 12.3% on strong residential building activity.
• The heavy chemical sector grew 10.7%, with a BOK official citing expanded production of metal products for weapons exported to Russia.
• External trade totaled about $2.7 billion, down 2.6% from 2023, as exports rose 10.8% to $360 million and imports fell to $2.34 billion.
• Nominal GNI per capita was put at 1.72 million won (about $1,239), roughly 3.4% of South Korea’s level, with figures derived from BOK’s long-running indirect methodology and released later than usual due to data collection delays.