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 has indicated that South Korea's economic growth is on track to accelerate due to the ongoing chip industry boom, according to a statement from his office on Sunday. Lee engaged in individual discussions with senior officials from three prominent global credit rating agencies — Moody's, Fitch, and S&P — during their visit to Bangkok for the International Monetary Fund and World Bank Group Annual Meetings.
The key figures Lee conversed with were Marie Diron, representing Moody's Sovereign and Sub-Sovereign Risk Group; James Longsdon from Fitch Ratings' global group overseeing sovereign and supranational ratings; and Roberto Sifon-Arevalo, head of sovereign analytics and research at S&P Global Ratings. The Ministry of Finance and Economy revealed that Lee informed these officials about Korea's recent economic achievements.
He projected Korea's growth for the year to fall within the 3 percent range, driven by robust chip exports and a surge in infrastructure investments. Lee further asserted that this growth momentum is anticipated to intensify in the medium to long run.
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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