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Korea Q3 GDP Up 1% on Chip Boom, Beating Forecasts
South Korea's economy grew 1.0% in the third quarter from the previous quarter, driven by strong semiconductor exports amid AI demand, the Bank of Korea said on Oct. 27. The growth rate was more than triple the BOK's August forecast of 0.3%, with exports and investment leading the expansion, Yonhap and Business Korea report. Korean media call it a 'surprise growth' (깜짝 성장), noting the chip boom's expected spillover into private consumption next year, per a BOK report. The KBS World and Korea Times also highlight the semiconductor supercycle as the key driver.
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