{
  "id": 16156251,
  "title": "South Korean economy's growth likely picked up in Q3 on chip exports: Reuters poll",
  "url": "https://urgent.news/2026/10/23/south-korean-economys-growth-likely-picked-up-in-q3-on-chip-exports",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-23T05:41:44.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/south-korean-economys-growth-likely-picked-up-in-q3-chip-exports-reuters-poll-6485446"
  },
  "original_language": "en",
  "account": "South Korea's economy grew marginally faster in the third quarter compared to the previous two quarters, as semiconductor exports and AI-driven investments bolstered growth, a Reuters poll of economists revealed. The AI-driven chip boom has been a driving force for the economy for years, but it has also made South Korea increasingly dependent on chip exports, with the benefits yet to permeate the domestic economy. High borrowing costs and mounting household debt have put a brake on household consumption. Semiconductor exports surged 84% year-on-year to a record $120.9 billion in September, driven by a 262.8% jump in chip exports to $60.3 billion, which made up nearly half of total shipments. The economy expanded 0.7% seasonally adjusted in the July-September quarter, a slight uptick from the 0.6% growth in the April-June period, according to the median forecast of 16 economists polled between October 14 and 23. Forecasts ranged between 0.5% and 1.6%. The question now is whether the export sector's success will translate into benefits for the domestic economy, with fiscal policy being a crucial factor in easing pressures, said Jeong Woo Park, an Asia economist at Nomura. Financial conditions are tightening, and the labor market is in a structural downturn, making it challenging for the younger generation to find jobs, Park added. The disparity between the booming chip sector and softer demand in other areas has raised concerns among some economists about an increasingly uneven recovery. While GDP growth is projected to be 3.0% year-on-year, slowing from 3.7% in the previous quarter, based on the median estimate from 16 economists, the Bank of Korea maintained its benchmark interest rate at 3.00% and raised its growth forecast to 3.3% for this year and 2.9% for next year.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Semafor",
        "title": "South Korean chip makers upgrade manufacturing in China",
        "url": "https://urgent.news/2026/10/21/south-korean-chip-makers-upgrade-manufacturing-in-china",
        "published": "2026-10-21T11:17:09.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}