South Korea’s economic recovery has become more broad-based, increasing the likelihood that per-capita gross national income (GNI) will reach $40,000 this year. Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol said second-quarter nominal gross domestic product (GDP) rose 26.4% from a year earlier, its highest growth rate in 47 years. August employment increased by 184,000 from a year earlier, while household income improved across all income brackets, with larger gains among lower-income groups. Moody’s and Fitch also gave positive assessments of the government’s fiscal consolidation efforts and growth-investment plans. The government is pairing the recovery with structural measures covering steel, petrochemicals, vacant knowledge industry centers, trade-related financial crimes and preparations for the 2027 World Youth Congress. Koo cautioned that policies must continue supporting growth, while the durability of the employment recovery and the GNI outcome will depend on second-half growth and exchange-rate movements.