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Moody's Raises South Korea's 2026 GDP Growth Forecast to 3.5% on Chip Demand

2026-09-03 08:02:24

According to Moody's, on Sept 3, the ratings agency raised South Korea's 2026 GDP growth forecast to 3.5%, up from the Bank of Korea's prior estimate of 3.3%. The upgrade reflects strong global demand for memory chips and semiconductors, which is expected to drive exports and increase the current account surplus to approximately $250 billion, or 13% of GDP. Moody's also cited South Korea's sophisticated refining capabilities and effective adaptation to Middle East energy disruptions as supporting factors for the upward revision.

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