IMF Lifts South Korea 2026 Growth Forecast to 2.6% on AI Chip Demand

3 articles · Updated · Bloomberg · Jul 9

South Korea received the IMF’s biggest growth upgrade among 30 major economies, with its 2026 forecast raised by 0.7 percentage point from April’s 1.9% estimate.
The IMF also lifted its 2027 outlook to 2.5% from 2.1%, saying strong external demand for semiconductors is driving the improvement.
AI-linked chip exports are now outweighing the economic drag from the Middle East war, according to the fund’s latest projections.
The IMF placed South Korea among the world’s four largest net exporters of AI hardware, alongside Taiwan, Thailand and Malaysia.

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IMF Raises South Korea's Growth Forecast to 2.6% on Semiconductor Boom

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South Korea 2026: AI and Semiconductor Boom Fuels Economic Resilience Amid Global Slowdown

Overview

South Korea stands out as a global economic bright spot, with the IMF raising its 2026 growth forecast to 2.6%. This optimism is fueled by strong external demand for key exports, especially semiconductors and AI-related hardware, making South Korea a leading net exporter in these sectors. The Asian Development Bank expects export growth to remain a crucial driver through 2027, as global AI demand continues to surge. While the semiconductor industry helps offset risks from energy price volatility and supply chain disruptions, South Korea’s strategic position in advanced technology underpins its resilience amid a slowing global economy.

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