[SMM Tin News Flash: South Korean Finance Minister Says Economic Growth Rate Will Exceed 2% This Year]

Published: May 12, 2026 09:26

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South Korea's Finance Minister Gu Runzhe said he expected the country's economic growth to exceed 2% this year, supported by surging global semiconductor demand. "We expect growth to exceed 2% this year," Gu said, adding that the specific pace would depend on the chip cycle and the Middle East war. Gu noted that robust exports surged 48% in April, resulting in a trade surplus of $23.8 billion. The country's current account surplus also jumped to a record $37.3 billion in March. Even so, he said, "inflation and the real estate market are immediate risk factors" that the government needs to address as a priority.

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