S. Korea showing signs of improvement on robust chip industry: KDI
SEOUL, Aug. 10 (Yonhap) -- The South Korean economy is showing signs of a "broad...
The South Korean economy is showing signs of broader improvement, with semiconductor-related industries leading the way, according to the Korean Development Institute (KDI). The think tank's monthly assessment revealed strong growth in exports and equipment investment, driven by the semiconductor sector. Despite this positive trend, the KDI cautioned that uncertainties remain, including U.S. tariff policies and geopolitical instability in the Middle East.
The country's inflation remains elevated, and employment conditions have weakened, posing economic challenges. South Korea's July exports reached a near-record high of US$98.89 billion, with semiconductor exports surging 179% to $41 billion. While consumer prices rose by 2.8% in July from a year earlier, the rate of increase slowed below 3% for the first time in three months. Manufacturing jobs, however, continued to decline.
Written by urgent.news from Yonhap News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Korea showing signs of improvement on robust chip industry: KDI koreatimes.co.kr
- South Korea to launch $3.5 billion chip fund, speed development of semiconductor hubs economictimes.indiatimes.com
- South Korea plans to launch a ~$3.5B chip fund for promising materials, parts, equipment, and fabless companies, and speed the development of domestic chip hubs (Reuters) reuters.com
