South Korea Q3 Growth Beats Forecasts as AI Chip Demand Lifts Exports
South Korea's economy expanded 1% in the third quarter, more than triple the central bank's projection, powered mainly by semiconductor exports.
AfroEuropa Newsroom
AfroEuropa desk
South Korea's economy grew 1% in the third quarter compared with the previous three months, well above the Bank of Korea's earlier forecast of 0.3%, according to preliminary central bank data reported by Ventureburn. The figure marks an acceleration from 0.6% growth in the second quarter.
Semiconductors tied to artificial intelligence demand were the main driver. Exports rose 2.3%, led by chips, machinery and electrical equipment, contributing 1.1 percentage points to overall growth. Imports increased 2.4%, in part reflecting purchases of chipmaking equipment.
Government data cited by Ventureburn showed semiconductor exports climbed 218.7% year-on-year to $148 billion during the quarter. The Bank of Korea estimates that chips accounted for roughly half of all third-quarter growth.
Keep reading
Intel Stock Plunges on Weak Q4 Outlook Despite Strong Data Center Growth
Intel shares dropped about 29% after a soft fourth-quarter forecast overshadowed a quarter in which data center and AI revenue rose 78%.
Other highlights
WhatsApp Rolls Out Group Status and Message-Sharing Updates
The messaging app introduced Group Status updates visible only to group members, along with tools to share old messages with new members and pin messages.
Follow the story
One newsletter, two continents
The Bridge brings you the tech, startups, and leaders moving between Africa and Europe in one sharp email each morning. No spam, unsubscribe anytime.
