Chip boom prompts Moody’s to lift Korea growth to 3.5%

Moody’s has raised South Korea’s 2026 growth forecast to 3.5 percent from 2.5 percent, betting that the AI-driven memory chip boom will extend into mid-2027. Earlier this month, the ratings agency projected that Korea's GDP would grow 3.5 percent this year and 2.7 percent next year in its periodic review of the country's sovereign credit ratings. The latest outlook marks a full percentage-point increase from Moody's May forecast of 2.5 percent growth for the Korean economy in 2026. It also nearl