South Korea's economy expanded 0.6% in Q2 from the previous quarter, driven by strong exports, particularly semiconductors. The Bank of Korea noted solid growth despite Middle East tensions, projecting 3% annual growth for 2026, a significant increase from earlier forecasts.
South Korea's economy expanded 0.6% in the second quarter, exceeding forecasts, driven by robust exports, particularly semiconductors. This growth puts the country on track for 3% annual GDP growth in 2026, a first since 2021, despite some geopolitical and trade risks.
South Korea's economy is recovering, driven by strong semiconductor exports offsetting a manufacturing slowdown. Monthly exports exceeded $100 billion in June, with semiconductors nearly tripling year-on-year due to AI demand. High oil prices and a weaker won pose inflation risks.
South Korea's economy is recovering, driven by strong chip exports, but the Middle East crisis raises concerns over inflation (2.6% April YoY) and household financial burdens, prompting government support measures.
South Korea's economy is projected to grow 2.5% in 2026, driven by strong semiconductor industry growth and a recovery in domestic consumption.
SEOUL, May 12 (Yonhap) -- The South Korean economy is showing signs of recovery,...
