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South Korea's economy outperforms expectations amid AI boom
South Korea's economy recorded stronger-than-expected growth in the second quarter of 2026, with GDP increasing by 0.6% compared to the previous quarter, following a 1.8% rise in the first quarter. The growth is driven by a robust rebound in the semiconductor and electronic chip sectors, which are crucial for artificial intelligence technologies. This has prompted the government and central bank to raise their growth forecasts, and it is expected to increase the likelihood of interest rate hikes in the coming months. Despite the slowdown from the strong levels seen in the first quarter, optimism remains as economic data continues to improve.
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