S&P projects S. Korea's economy to grow 2.3% in 2026
Global credit rating agency S&P Global Ratings posted on Wednesday South Korea's GDP growth at 2.3% in 2026, noting the country's most challenging period is likely "in the rear-view mirror," Qazinform News Agency cites Yonhap.
Overall credit conditions will likely remain tough, but with some companies demonstrating strong performance, we anticipate a modest improvement compared with 2025, Park Jun-hong, director and lead analyst for Korean corporate ratings at S&P Global Ratings, said at a seminar in Seoul.
Park added his assessment is derived from the betterment in the global macroeconomy and eased tariff pressures, following the trade deal with the U.S. in October.
The agency said it expects performances across key industries to differ next year, with strong results forecast in the semiconductor sector. However, chemical companies are predicted to face challenges due to oversupply and slower-than-expected restructuring, it added.
S&P highlighted U.S. policy changes could influence the performances of local firms, while noting that the the U.S. and China trade war could offer new business opportunities for Korean companies.
Earlier, Qazinform reported S. Korea’s food exports are set to hit a record high this year.
