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Korea's Q3 GDP Surprises with 1% Growth on Chip Boom
South Korea's economy grew 1.0% in the third quarter, more than triple the Bank of Korea's original forecast, driven by robust semiconductor exports amid an AI-driven supercycle, Yonhap and Business Korea report. The growth was also supported by strong investment and government spending, with the annual rate now expected to reach the mid-3% range, according to KBS World. Korean media describe the figure as a 'surprise' or 'jackpot' growth, with Kyunghyang Shinmun noting real purchasing power rose the most in 49 years, though private consumption reportedly slumped.
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