South Korean Finance Minister: Semiconductor Market Upturn Expected to Last at Least Until Next Year

On October 18, South Korean Finance Minister Lee Hung-joo said on Saturday that the semiconductor industry boom will last at least until 2027. Speaking to CNBC on the sidelines of the International Monetary Fund and World Bank annual meetings in Bangkok, he said, "Currently, we assess that this growth wave will persist for at least another year. The reason is that the supply and demand gap in semiconductors remains substantial, and supply-side expansion continues."

Lee Hung-joo noted that chip stocks amplified volatility in the Korean stock market this year. He explained that the semiconductor industry holds a larger share of the domestic economy than in other countries, leading to severe market fluctuations. However, he emphasized that despite market swings, the fundamentals of the Korean economy remain robust. (Jin10)