The Bank of Korea confirmed that while the nation’s growth rate moderated, the annual expansion reached 3.7% between April and June. This resilience remains largely tethered to the artificial intelligence boom, which has kept demand high for technology exports. As home to industry giants Samsung Electronics and SK Hynix, South Korea continues to reap the benefits of the global infrastructure build-out for advanced computing.
In section Market Quotes
South Korean Growth Decelerates as Semiconductor Exports Anchor Economy
South Korea’s gross domestic product expanded 0.6% in the second quarter, marking a slowdown from the 1.8% surge recorded in the opening months of the year. Despite the cooling pace, the figures outperformed market expectations, bolstered by a relentless global appetite for memory chips that continues to insulate the broader economy.
Internal pressures dampened the overall performance during the quarter. Private consumption weakened significantly, and investment in construction contracted, leaving the manufacturing and research sectors to carry the load. Despite these domestic headwinds, policymakers and analysts maintain a positive outlook for the remainder of the year, banking on the sustained strength of the export market to drive stability.
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