Citi Raises South Korea's Economic Growth Forecast, Citing Semiconductor Boom

Citigroup economist Jin-wook Kim has upwardly revised South Korea's GDP growth projections, citing a recovery in the automotive sector and strong manufacturing performance driven by the semiconductor industry. The bank raised its 2026 growth forecast by 0.1 percentage points to 3.8% and its 2027 forecast by 0.2 percentage points to 3.3%. Citi expects the chip-led economic expansion to continue through 2028.