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

South Korea's economy grew more than three times faster than expected in the third quarter, powered by booming semiconductor exports and investment, raising the prospect of a significant upgrade to the country's annual growth outlook. Real gross domestic product expanded 1 percent from the previous quarter, far exceeding the Bank of Korea's August forecast of 0.3 percent, preliminary data showed Tuesday. The unrounded growth rate was 0.97 percent. The surprise expansion puts the economy on track

Source: The Korea Herald