South Korea GDP Jumps 1% in Q3 as AI Chip Exports Crush 0.3% Forecast
Updated
Updated · Al Jazeera English · Oct 26
South Korea GDP Jumps 1% in Q3 as AI Chip Exports Crush 0.3% Forecast
3 articles · Updated · Al Jazeera English · Oct 26
Summary
South Korea’s economy expanded 1% in July-September, or 3.4% from a year earlier, far above the Bank of Korea’s 0.3% August forecast.
Exports rose 2.3% from the prior quarter, led by semiconductors, machinery and electrical equipment, while facility investment climbed 4.1% and intellectual-property investment 2.3%.
Private consumption still fell 0.2%, showing domestic demand lagged even as construction investment edged up 0.7% and trade powered growth.
September exports surged 83.5% year on year to $120.9 billion, with chips making up nearly half of shipments as South Korea rode the global AI memory shortage.
That momentum keeps 2026 growth on track for 3.4%-3.6%, which would mark the country’s strongest expansion since 2011, excluding the pandemic.