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Regional GDP up 6.2% in 2024 on gains in manufacturing sector

Published: 23 Dec. 2025, 15:41

ASML engineers are seen at ASML’s headquarters in Veldhoven, the Netherlands, on Nov. 20, 2023. [REUTERS/YONHAP]

The gross regional domestic product (GRDP) in Korea rose 6.2 percent in 2024 from a year earlier, led by gains in the manufacturing sector and the greater capital area, government data showed Tuesday.

The total GRDP was tallied at 2,561 trillion won ($1.78 trillion) last year, up 149 trillion won from the previous year, according to the data provided by the Ministry of Data and Statistics.

Gyeonggi, which surrounds Seoul, recorded a GRDP of 651 trillion won, accounting for 25.4 percent of the national total, the largest share among the country's 17 cities and regions.

Seoul's GRDP followed next with 575 trillion won, while the administrative city of Sejong had the smallest share, with a GRDP of 17 trillion won.

Last year's growth was attributed to robust output from the mining and manufacturing sectors, which saw a 4.2 percent on-year increase, with the most notable growth occurring in Gyeonggi.

The service and utilities sectors expanded 1.5 percent and 5.1 percent, respectively.

Gross regional income increased by 6.2 percent on year, reaching 2,598 trillion won in 2024, according to the ministry.

Seoul and Gyeonggi experienced net inflows of income, while South Chungcheong and Ulsan saw net outflows.

Yonhap