According to the Bank of Korea, South Korea's economy grew by 1.0% last year, aligning with earlier forecasts. Although the economic performance showed a slight contraction of 0.2% in the fourth quarter of the year, which was an improvement from the initial estimate of a 0.3% decline. This moderate growth has been attributed to a rise in annual nominal GDP, which reached 2.66 quadrillion won, showcasing a year-on-year increase of 4.2% alongside a real GDP growth of 1.0%.

The data also indicated a notable expansion in exports by 4.2% and imports by 3.8%, illustrating a steady trade performance. However, growth in the manufacturing sector has slowed down, dropping to 2.0% from a more vigorous 4.3% the previous year. Meanwhile, real gross national income has experienced a significant increase of 2.2%, suggesting that income from foreign sources is growing more rapidly than the domestic economy, which could signal a diversification of income sources for South Korea.

The Bank of Korea reported an increase in real net factor income from abroad from 32.3 trillion won to 39.5 trillion won. Additionally, better terms of trade have reduced the real trade loss significantly from 51.9 trillion won to 31.7 trillion won, indicating improved economic conditions despite the challenges posed by a weak won. Looking toward the future, South Korea's GNI per capita for 2025 is estimated to be $36,855, reflecting concerns over the impact of currency fluctuations on overall economic health.