IMF raises South Korea's economic growth forecast to 2.6% on strong semiconductor demand

The IMF significantly raised South Korea's economic growth forecast for this year to 2.6%, citing strong semiconductor demand. This upward revision of 0.7 percentage points from April's forecast surpasses previous projections by the Bank of Korea and OECD, attributing the strength to robust AI hardware exports. The IMF also adjusted its global growth forecast downward to 3% due to ongoing uncertainties, while predicting global inflation to reach 4.7%.