Chip boom to continue through 2027, South Korea minister tells CNBC
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.
This story
This is one outlet's version. Read the fullest account.
