South Korea Hikes Growth Forecast Sharply as Demand for AI Booms
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South Korea revised its economic growth forecast sharply higher as booming global demand for artificial intelligence drives its semiconductor exports to record levels.
The government sees gross domestic product expanding 2.6% this year, an upward revision from its previous forecast of 2.2%, according to a statement Wednesday from the Finance Ministry. The inflation forecast has been kept unchanged at 2.6%, matching an estimate by the Bank of Korea.