Seoul: The state-run statistics agency announced plans to begin issuing quarterly data on the gross regional domestic product (GRDP) this year. This effort aims to assist the government in swiftly devising measures for regional economic growth and promoting balanced development.
According to Yonhap News Agency, Statistics Korea, which currently provides GRDP data annually, has decided to transition to a quarterly publication schedule. The first-quarter figures are expected to be announced in June. This change is anticipated to enable the government to devise, implement, and assess economic policy measures for regional development more efficiently, which is essential for addressing regional imbalances and achieving balanced development.
The plan was disclosed during a forum co-hosted by Statistics Korea and the Bank of Korea (BOK), where strategies for achieving balanced national development were discussed.