South Korea's Economic Growth and Exports Boosted by Chip Boom
The Bank of Korea has raised South Korea's economic growth forecast for the year to 2.6% due to robust chip-driven exports. This comes as a Reuters poll indicates South Korea's exports are set to rise for the 12th consecutive month, further fueled by the semiconductor boom.
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BOK lifts S. Korea's growth forecast to 2.6% for this year amid robust chip-driven exports
The central bank on Thursday raised its economic growth forecast for South Korea to 2.6 percent for 2025 amid solid exports driven by a semiconductor supercycle. The revision by the Bank of Korea represents a 0.6 percentage-point increase from its previous forecast of 2 percent issued in February. For 2027, the central bank estimated its growth outlook at 2.1 percent. The South Korean economy grew 1.7 percent in the first quarter, marking the sharpest quarterly growth in 5 1/2 years. (Yonhap)
By The Korea Herald
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