President Lee: "Record-High Real GNI Growth Rate in 1Q... Will Ensure It Leads to Growth for All"

"National Debt Ratio Expected to Drop Significantly...
Greater Capacity for Investment in Future Generations"


"Achievements Must Be Felt in Daily Life to Call Korea 'Irreplaceable'"

President Lee Jae-myung stated on June 9 that he would do his utmost to ensure that the leap forward in the South Korean economy translates into growth for all citizens, in relation to the fact that the real Gross National Income (GNI) growth rate for the first quarter of this year marked the highest level since statistics began to be compiled.

President Lee Jae-myung is speaking at the first anniversary press conference held at the Blue House State Guest House on June 8, 2026. Photo by Yonhap News

On his Facebook page that day, President Lee referred to the national income statistics released by the Bank of Korea, saying, "The real GNI growth rate, which reflects the real purchasing power of the people, recorded 9.2% quarter-on-quarter in the first quarter." He added, "This is the highest figure since these statistics began in 1960."

President Lee further explained, "On a year-on-year basis, it increased by 13.2%, the highest since 1988," and added, "The quarter-on-quarter nominal Gross Domestic Product (GDP) growth rate for the first quarter was 10.5%, the highest in 50 years since 1976." He continued, "On a year-on-year basis, it was 17.1%, the highest in 30 years."

The Bank of Korea released the 'Provisional National Income for the First Quarter of 2026' on this day. The real GDP growth rate for the first quarter was calculated at 1.8% quarter-on-quarter and 3.8% year-on-year. These figures were revised upward by 0.1 percentage point and 0.2 percentage point, respectively, from the preliminary figures announced in April. Strong exports led by semiconductors, an increase in facility investment, and improved terms of trade contributed to the rise in growth and national income indicators.

President Lee also pointed out that the improvement in indicators could lead to an expansion of fiscal capacity. He said, "Thanks to this, the national debt ratio this year is expected to drop significantly to the mid-to-high 40% range, and tax revenues are also projected to increase substantially. This will not only further strengthen fiscal soundness but also expand the capacity for investment in future generations." He added, "Taking into account the strengthening of the National Pension Fund, the fiscal health of our community has become much stronger than at the time the current administration took office."

President Lee also noted that the overall trend in growth rates has improved since the launch of the administration. He stated, "The growth rates for all quarters since the government was launched have also been revised upward," and explained, "The first quarter real GDP growth rate was adjusted from 1.7% to 1.8% quarter-on-quarter and from 3.6% to 3.8% year-on-year."

President Lee again emphasized that the improvement in macroeconomic indicators must be felt in the daily lives of the people. He said, "Only if these achievements are felt in the lives and daily routines of the people can we truly call this the 'irreplaceable Republic of Korea.'"

This content was produced with the assistance of AI translation services.