BOK chief stresses need to curb inflation amid AI boom, Mideast crisis
The chief of the Bank of Korea (BOK) on Wednesday stressed the importance of keeping inflation under control, saying the global artificial intelligence (AI) investment boom and the prolonged Middle East conflict are combining to push up consumer prices. "Korea sits at the intersection of two of the most important trends right now. One is AI and the big investment boom, and the other one is the…
The head of the Bank of Korea emphasized the need to keep inflation under control, attributing the rise in consumer prices to the global artificial intelligence (AI) investment surge and the ongoing conflict in the Middle East. Speaking at a CNN Global Perspectives session during the IMF-WBG annual meetings in Bangkok, South Korea's Governor Shin Hyun-song discussed how these two significant global trends were intersecting.
While the AI boom and Middle East war exert opposing effects on the economy, the AI sector is amplifying the inflationary impact, according to the central bank governor. Korea is a frontrunner in the global AI boom, with the demand for AI computing infrastructure driving the demand for memory chips, boosting exports and profits for the nation's two leading chipmakers, Samsung Electronics and SK Hynix.
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.
This story
This is one outlet's version. Read the fullest account.
