Global IBs raise Korea's growth outlooks on chip boom

Major global investment banks have revised their growth outlooks for South Korea, citing a robust semiconductor industry boom. The median growth forecast for 2026 has been increased to 3.5 percent by major foreign institutions, up from 3.3 percent in August, according to a report by the Korea Center for International Finance. This upward revision reflects expectations that the global semiconductor cycle will continue to be stronger and more resilient than previously thought.

Investment banks such as JP Morgan, Citi, and UBS have all raised their growth forecasts for the Korean economy, with JP Morgan predicting a 4 percent growth for the year, up from 3.8 percent in their previous forecast.

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