South Korea's Q2 GDP Grows 0.62% QoQ, 3.7% YoY, Beating Consensus on July 23

According to the Bank of Korea, the country's second-quarter real GDP growth came in at 0.62% quarter-over-quarter and 3.7% year-over-year on July 23, exceeding market expectations of 0.37% QoQ and 3.43% YoY respectively.

Real Gross Domestic Income (GDI) surged 15.6% year-over-year, marking the highest growth rate since Q1 1988—a 38-year record. The outperformance follows Q1's 1.8% QoQ growth, demonstrating sustained economic momentum despite prior Middle East supply shocks.