South Korea Q3 Growth Picked Up on Chip Exports
South Korea's economic growth likely accelerated slightly in the third quarter as booming semiconductor exports and artificial intelligence investments helped offset weaker domestic demand. Economists note that high borrowing costs continue to weigh on household consumption.
South Korea's economy grew a seasonally adjusted 0.7% in the third quarter, driven by a surge in semiconductor exports and artificial intelligence investments. This marks a pickup from 0.6% growth in the previous quarter. The uneven recovery raises concerns about domestic demand as the semiconductor boom fails to lift the broader labor market.
