S. Korea likely to continue solid growth driven by robust chip exports

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SEOUL, Oct. 12 (Yonhap) -- The South Korean economy is expected to continue solid growth for the time being as robust semiconductor exports spill over into the broader economy, the central bank said Monday.

"The domestic economy is expected to see a significant increase in its growth rate this year, driven by strong semiconductor exports, and it will maintain steady growth next year as well," the Bank of Korea (BOK) said in a report submitted to the National Assembly.

"As the semiconductor sector continues to expand, the positive impact of improving income conditions is expected to spread to domestic demand as a whole, including consumer spending, leading to a favorable growth trend."

This file photo taken Aug. 27, 2026, shows Bank of Korea Gov. Shin Hyun-song. (Pool photo) (Yonhap)

The BOK raised its growth forecast to 3.3 percent for 2026 and 2.9 percent for 2027, saying the semiconductor upcycle continues and the gains are spilling over into the broader economy.

The country's gross domestic income (GDI), which measures the total income generated and costs incurred by all sectors within an economy, grew 13.2 percent in the first quarter of this year and 15.7 percent in the second quarter, compared with 3.5 percent in the fourth quarter of 2025.

Amid strong economic conditions, the central bank lifted the benchmark interest rate to 3 percent over two consecutive meetings in July and August, citing "preemptive" action to prevent inflationary pressures from accelerating further.

The BOK said consumer prices are expected to remain above the 2 percent target as strong exports and investment support household incomes.

In particular, core inflation, which excludes volatile energy and food prices, rose nearly 3 percent in recent months due to supply chain disruptions stemming from the prolonged Middle East crisis.

"We plan to closely monitor inflation and economic trends, as well as financial stability, and determine the timing and pace of additional rate hikes," the BOK said.

The BOK will hold its next rate-setting meeting on Oct. 22.

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S. Korea likely to continue solid growth driven by robust chip exports

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首尔，10月12日（韩联社）——韩国央行周一表示，由于强劲的半导体出口带动了更广泛的经济领域，预计韩国经济在短期内将继续保持稳健增长。

韩国银行（BOK）在提交给国会的一份报告中表示：“受半导体出口强劲的推动，预计今年韩国国内经济增长率将大幅提高，明年也将保持稳定增长。”

“随着半导体行业的持续扩张，收入状况改善带来的积极影响预计将波及到包括消费支出在内的整体国内需求，从而带来良好的增长趋势。”

这张摄于2026年8月27日的资料照片显示的是韩国央行行长申铉松。（联营照片）（韩联社）

韩国央行将2026年和2027年的增长预期分别上调至3.3%和2.9%，称半导体行业的上升周期仍在继续，其收益正在蔓延至更广泛的经济领域。

该国的国内总收入（GDI）衡量的是一个经济体内所有部门创造的总收入和发生的总成本，今年第一季度增长了 13.2%，第二季度增长了 15.7%，而 2025 年第四季度仅增长了 3.5%。

在强劲的经济形势下，央行在7月和8月的两次连续会议上将基准利率上调至3%，并称此举是“先发制人”的措施，旨在防止通胀压力进一步加剧。

韩国央行表示，由于强劲的出口和投资支撑了家庭收入，预计消费者价格将继续高于 2% 的目标水平。

特别是，由于持续的中东危机导致供应链中断，剔除波动较大的能源和食品价格的核心通胀率在最近几个月上涨了近 3%。

韩国央行表示：“我们将密切关注通胀和经济趋势以及金融稳定性，并决定何时以及以何种速度进一步加息。”

韩国央行将于10月22日举行下一次利率制定会议。

（导语）财政部长、韩国央行行长强调协调应对不确定性

（导语）韩国央行面临进一步上调关键利率的压力，以跟上美联储的最新加息步伐。

（第三次）韩国央行连续两次加息至3%，并将2026年加息预期上调至3.3%。

韩国有望继续保持稳健增长，这主要得益于强劲的芯片出口