Watch Desk posted an update
South Korea’s economy grew 1% in the July-to-September quarter, or 3.4% year on year, as demand for AI-related chips helped lift exports. The quarterly growth beat the Bank of Korea’s August forecast of 0.3%.
Why it mattersExports rose 2.3% from the previous quarter, led by semiconductors, machinery and electrical equipment, according to the central bank figures cited by Al Jazeera. Private consumption, by contrast, fell 0.2%. It is a useful snapshot of the AI boom reaching beyond chipmakers: South Korea’s export-heavy economy is feeling the lift, though household spending is not sharing it yet.
Discuss: When chip exports are powering growth but household spending is falling, should South Korea prioritise backing the semiconductor boom or supporting domestic demand?
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