South Korea’s Finance Minister Lee Hyoung-il says the country’s economic growth momentum is expected to strengthen, driven by a broader chip boom. Speaking during meetings with global credit rating agencies in Bangkok, he briefs officials on recent economic performance and the outlook for the coming years, according to his office.
Lee met separately with senior figures from Moody’s, Fitch and S&P Global Ratings on the sidelines of the annual International Monetary Fund and World Bank Group meetings. He projects South Korea’s growth to be in the 3% range this year, supported by strong chip exports and increased facility investment. He adds that the positive momentum is expected to build further over the medium to long term.
Both outlets present the meetings as a chance for the finance minister to communicate the macroeconomic outlook to international credit assessors. The reporting focuses on the near-term growth projection and the longer-term expectation that semiconductor-related demand and investment will underpin economic performance.
