South Korea's Q3 GDP grows 1.0% on chip boom, tripling BOK forecast

South Korea's economy expanded 1.0% quarter-on-quarter in Q3, more than triple the Bank of Korea's 0.3% forecast. Year-on-year growth reached 3.4% versus a projected 2.6%, with semiconductor shipments from Samsung and SK hynix accounting for roughly half of the expansion.

• Quarterly GDP growth hit 1.0% versus the BOK's 0.3% forecast
• Exports rose 2.3%, facilities investment grew 4.1%
• Semiconductors drove about half of the quarter's growth
• Real GDI jumped 18.8% year-on-year, the strongest since 1977