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South Korean Finance Minister Lee Hyeong-il said the semiconductor supply-demand gap remains large and supply continues to expand, so the current round of industry growth can continue at least until 2027.
South Korea’s finance minister and central bank governor held a joint meeting with officials from the Federal Reserve and the U.S. Treasury to discuss recent economic conditions and South Korea-U.S. economic and financial cooperation.
A South Korean financial column argues that the global memory chip market may experience oversupply in 2029 as new capacity comes online, and that South Korea may have only 2 to 3 years left to drive an economic transition.
Citi raised South Korea’s 2026-year and 2027-year GDP growth forecasts to 3.8% and 3.3%, respectively, citing the recovery in auto production and semiconductor industry expansion.