Nomura economist Jeong Woo Park now expects South Korea's economy to have grown 1.6% quarter-on-quarter and 4.0% year-on-year in the third quarter, sharply above prior forecasts of 0.1% and 2.4%. Strong exports of AI-related products, including chips and computers, and the global AI investment cycle supported facilities investment, particularly in semiconductors, offsetting weak household consumption.
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