[Bank of Korea: Chip Boom to Significantly Boost GDP Growth] The Bank of Korea (BOK) stated that supported by a booming semiconductor industry and a stronger-than-expected global economic environment, South Korea's export-oriented economy is expected to achieve "significantly higher" growth this year compared to last year. The BOK told the National Assembly that the semiconductor market is experiencing a cycle stronger than any previous bull run and is likely to maintain its stronger momentum for at least the year. These remarks come as the BOK is scheduled to release its latest economic growth and inflation forecasts on Thursday. Analysts expect the bank to raise its 2026 GDP growth forecast from 1.8% in November to approximately 2%. The market widely expects policymakers to keep the benchmark interest rate unchanged at 2.5%. Preliminary data from the BOK showed that the South Korean economy grew by 1% last year.
