Analysis by Region - Asia Pacific - South Korea

Analysis by Region - Asia Pacific - South Korea



We've upgraded our 2024 GDP growth forecast for South Korea to 2.4% y/y from 1.8% y/y previously. The economy is benefitting from the global semiconductor uptrend and rising AI demand. Major Korean electronics manufacturers have therefore accelerated their capex plans to prepare for sustained global demand in the next couple of years.


South Korea: Stronger domestic momentum prompts growth upgrade
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
risk warnings
What to watch out for
Exposure to Key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and Structure of trade
Policy
Politics

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