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Korea's Q3 GDP Grows 1%, Tripling BOK Forecast on Chip Boom
South Korea's economy expanded 1.0% in the third quarter, more than triple the Bank of Korea's original forecast, driven by robust semiconductor exports amid booming AI demand, according to Yonhap and Business Korea. The BOK reported the growth on Tuesday, with KBS World noting the expansion was faster than expected due to the AI-driven semiconductor supercycle. The government now expects annual growth to settle in the mid-three percent range, as reported by KBS World. However, KBS World also flagged that private consumption slumped despite the overall growth, and the KOSPI tumbled more than 4% in intraday trading on Friday following Wall Street losses.
- (LEAD) S. Korea's GDP expands 1 pct in Q3 on strong exports, investment: BOK
- Korea's Q3 GDP Grows 1.0% on Chip Boom, Tripling BOK Forecast
- S. Korean Economy Grows 1% in Q3 on Semiconductor Boom
- Gov’t Forecasts Mid-3% Growth, $40K Per Capita Income This Year
- S. Korea’s Q3 Growth Beats Forecast, but Private Consumption Slumps
- KOSPI Tumbles More than 4% in Intraday Trading; Program Selling Halted
