Overview

• South Korea’s GDP climbed 0.6% in Q2 on a quarter-on-quarter basis, reversing a 0.2% contraction in Q1.
• On a year-on-year basis, the economy expanded 0.5% in April–June after a 0.1% decline in the first quarter.
• Exports of goods and services rose 4.2% from Q1, led by strong semiconductor, petroleum and chemical shipments.
• Private consumption rebounded as household spending picked up and consumer confidence improved.
• Seoul is negotiating with Washington to delay or lift planned 25% tariffs on key exports set to take effect August 1.