South Korea finance minister seeks sustainable growth beyond AI-chip boom
Briefing by News4U · First published
Today South Korea’s finance minister Lee Hyoung-il said during an annual consultation with Fitch Ratings that Seoul is seeking to turn the current economic boom driven by artificial intelligence and semiconductors into sustainable growth. Meeting Fitch’s Asia-Pacific sovereigns head Thomas Rookmaaker in Seoul as three days of talks wrapped up, Lee said the economy is likely to grow in the mid-3 percent range this year on the back of AI and chips, with growth potential also expected to rebound. He stressed spreading productivity gains to other sectors, addressing disparities from the boom, and backing large-scale facility investment plus AI adoption by small and medium-sized firms despite an aging, shrinking population. [1]
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- S. Korea eyes sustainable growth beyond chip-led boom: finance minister
Yonhap Business · · Full text