[SMM Tin Express: Bank of Korea: Chip Boom to Significantly Boost GDP Growth]

Published: Feb 24, 2026 09:48

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The Bank of Korea stated that, supported by the booming chip industry and a stronger-than-expected global economic environment, South Korea's export-oriented economy is expected to achieve "significantly higher" growth this year compared to last year. The Bank of Korea informed the National Assembly that the semiconductor market is showing a stronger cycle than any previous upturn and is likely to maintain stronger-than-usual momentum at least through this year. These remarks were made ahead of the Bank of Korea's release of its latest economic growth and inflation forecasts on Thursday. Analysts expect the bank to raise its 2026 GDP growth forecast from the 1.8% predicted in November to around 2%. Market consensus expects policymakers to keep the benchmark interest rate unchanged at 2.5%. Preliminary data from the Bank of Korea showed that the South Korean economy grew by 1% last year.

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