South Korean Finance Minister Says Growth to Exceed 2% This Year

Vehicles bound for export at a port in Ulsan, South Korea. — Vehicles bound for export at a port in Ulsan, South Korea.Photographer: SeongJoon Cho/Bloomberg

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May 11, 2026 at 7:15 AM UTC

South Korean Finance Minister Koo Yun Cheol said he expects the country’s economic growth to exceed 2% this year, supported by surging global demand for semiconductors.

“We expect the growth rate to go over 2% this year,” Koo said at a press conference Monday, adding that the exact pace would depend on the chip cycle and the war in the Middle East.