Korea likely to continue solid growth driven by robust chip exports
The Korean economy is expected to continue solid growth for the time being as robust semiconductor exports spill over into the broader economy, the central bank said Monday. "The domestic economy is expected to see a significant increase in its growth rate this year, driven by strong semiconductor exports, and it will maintain steady growth next year as well," the Bank of Korea (BOK) said in a…
The Korean economy is poised for sustained growth, according to the central bank's latest forecast. Strong semiconductor exports are fueling this growth, with the Bank of Korea (BOK) projecting a significant rise in the country's growth rate this year. The BOK anticipates a notable increase in 2026, with a growth rate of 3.3 percent, and a steady 2.9 percent projection for 2027.
This positive growth trajectory is expected to benefit the broader economy, as improved income conditions are anticipated to ripple through domestic demand, including consumer spending. The BOK's forecast is based on impressive growth figures from the first and second quarters of the current year, with the gross domestic income (GDI) rising by 13.2 percent and 15.7 percent respectively, compared to a mere 3.5 percent growth in the previous period.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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