S. Koreans rank 13th in GDP per capita but feel economy like a 27th-place country, report finds

Survey of 1,000 adults finds economic sentiment near the bottom among developed nations despite semiconductor-driven growth; personal happiness, social trust also lag

The cover of the "2026 Social Issues as Seen by Koreans" report published by SK Group's Center for Social Value Enhancement. [Center for Social Value Enhancement]

South Korea's economic indicators — exports, investment and the like — have broadly improved on the back of a semiconductor boom, but the public's sense of economic well-being, as well as broader social measures such as happiness and trust, remain near the bottom among advanced economies, a new report shows.

The Center for Social Value Enhancement (CSES), a nonprofit research foundation established by SK Group, released the findings Thursday in its "2026 Social Issues as Seen by Koreans" report, co-published with impact-measurement firm Triplelight. The survey, conducted among 1,000 adults nationwide at a 95 percent confidence level with a margin of error of plus or minus 2.03 percentage points, marks the seventh consecutive year of the study.

According to the report, South Korea ranked 13th out of 29 countries in GDP per capita this year but placed 27th — near the very bottom — in "economic sentiment." Japan showed a similar gap: 15th in GDP per capita but last among the 29 countries in economic sentiment.

By contrast, Singapore, the Netherlands and Australia posted strong results on both measures. Singapore topped the rankings in both GDP per capita and economic sentiment, while the Netherlands placed third in GDP per capita and fourth in economic sentiment. Australia ranked fourth in GDP per capita and sixth in economic sentiment, reflecting a relatively small gap between the two measures.

South Korea and Japan also scored poorly on social sentiment. South Korea ranked 21st out of 29 countries in personal happiness, 25th in social support and 21st out of 22 countries in social trust. Japan ranked 19th in personal happiness, 17th in social support and 22nd in social trust.

Looking at the seven-year trend, assessments of the national and household economies have turned more positive, while evaluations of social conditions — including trust and quality of life — have actually declined. The public's rating of the national economy rose from 5.43 out of 10 in 2020 to 5.68 in 2026, the highest score recorded over the seven-year period. Household economic assessments similarly climbed from 5.43 in 2020 to 5.66 in 2026, also a seven-year high.

Social trust, however, moved in the opposite direction. Ratings for a "trustworthy society" peaked at 5.48 out of 10 in 2020 and slipped to 5.43 in 2026, while assessments of South Korea as a "good place to live" fell from 6.11 in 2020 to 5.96 in 2026.

Public willingness to act on social issues also weakened over the same period. The share of respondents willing to volunteer or donate their skills dropped from 80.4 percent in 2020 to 72.3 percent in 2026. Consumer activism declined sharply as well: the proportion who said they had boycotted products linked to social problems fell from 63.6 percent in 2020 to 31.7 percent in 2026.

The survey found that the public expects companies to address social problems, not just drive economic growth. When asked about corporate priorities, 55.7 percent of respondents said companies should prioritize ESG management, compared with 44.3 percent who said growth should come first.

Acknowledging that companies cannot solve every social problem, the report recommended that businesses focus on issues where both social impact and commercial benefit are high. "Examples include rising greenhouse gas emissions, a shortage of technology for developing alternative energy, and a lack of jobs for young people," the report said. "Companies need to strategically concentrate on these areas, where they can grow while earning public empathy and support."

klee@heraldcorp.com