South Korea's Chip Boom Could Keep GDP Growth Above 3% Through 2028
Dow Jones
6 hours ago
0111 GMT - South Korea's chip-led economic expansion could keep real gross domestic product growth above 3% over the next three years, Citigroup's Jin-Wook Kim says. The economist expects the semiconductor boom to add 3.2 percentage points to Citi's growth estimates for the country, with real GDP growth now projected at 3.7% in 2026, 3.1% in 2027 and 3.0% in 2028. Kim expects chip exports to jump 175% this year and 41% next year, with long-term agreements by semiconductor companies likely to help the country sustain strong exports and current-account surpluses. Citi expects the chip industry boom to lift nominal GDP growth to 25% this year, the strongest since 1981.
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