South Korea's nominal gross domestic product expanded 26.4 percent year-on-year in the second quarter of 2026, the sharpest annual growth since 1979, according to data released Tuesday by the Bank of Korea (the country's central bank). The surge was driven largely by AI-related semiconductor exports and a jump in corporate operating surpluses, while real GDP rose a more modest 0.6 percent from the previous quarter. The milestone puts South Korea on course to surpass $40,000 in per capita gross national income for the full year, a threshold the central bank says is achievable barring major external shocks.