Korea's growth momentum to strengthen amid chip boom: finance minister
BANGKOK — Finance Minister Lee Hyoung-il has stressed Korea's economic growth is set to gain further momentum amid the chip supercycle during meetings with officials from global credit rating agencies, his office said Sunday. Lee met separately with senior officials from three global credit rating agencies — Moody's, Fitch and S&P — on the sidelines of the Annual Meetings of the International…
Finance Minister Lee Hyoung-il anticipates a further strengthening of Korea's economic growth momentum driven by the chip supercycle, according to his office. The minister engaged in separate discussions with senior officials from three major global credit rating agencies - Moody's, Fitch, and S&P - during the International Monetary Fund and World Bank Group Annual Meetings in Bangkok.
The three officials he met with were Marie Diron, Moody's global head of Sovereign and Sub-Sovereign Risk Group; James Longsdon, Fitch Ratings global group head of Sovereign and Supranational Ratings; and Roberto Sifon-Arevalo, S&P Global Ratings global head of sovereign analytics and research. The finance minister provided these officials with an overview of Korea's recent economic performance, highlighting the country's projected growth rate of 3 percent for this year.
This growth is anticipated to be bolstered by robust chip exports and increased infrastructure investment. The finance minister's office expects the growth momentum to intensify over the medium to long term.
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