IMF raises Korea’s growth forecast to 3.3% as chip exports outweigh war impact

Shipping containers are stacked at Busan Port, Oct. 1. Yonhap The International Monetary Fund (IMF) lifted its forecast for Korea’s economic growth this year to 3.3 percent from 2.6 percent three months ago, a 0.7-percentage-point increase driven by strong semiconductor exports, the Ministry of Finance and Economy said Tuesday. The IMF sees chip demand providing…

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President stresses national interests in diplomacy, acknowledges disagreements with US

President Lee Jae Myung speaks during a weekly Cabinet meeting at Cheong Wa Dae in Seoul, Tuesday. Yonhap President Lee Jae Myung said Tuesday that disagreements can exist between countries, while stressing that Korea must put its national interests first and “avoid submissive attitudes or excessive servility” in its diplomacy. Speaking to ministers and presidential…

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