Chip boom drives Korea's surprise 1% GDP growth in Q3

What happened: South Korea's real GDP grew 1 percent in the third quarter from the previous quarter, far exceeding the Bank of Korea's August forecast of 0.3 percent, driven by semiconductor exports and investment. Key numbers: Q3 GDP +1.0% Why it matters: The surprise expansion puts the economy on track to surpass the central bank's full-year forecast, with annual growth potentially reaching 4 percent if momentum holds in the fourth quarter. The BOK expects private consumption to recover gradually from the fourth quarter, though income growth has not yet fed through to household spending. Coverage: 4 outlets in 24h

South Korea's real GDP grew 1 percent in the third quarter from the previous quarter, far exceeding the Bank of Korea's August forecast of 0.3 percent, driven by semiconductor exports and investment.

The surprise expansion puts the economy on track to surpass the central bank's full-year forecast, with annual growth potentially reaching 4 percent if momentum holds in the fourth quarter. The BOK expects private consumption to recover gradually from the fourth quarter, though income growth has not yet fed through to household spending.