Nomura says chip boom has yet to lift Korea’s broader economy

Seoul [South Korea], June 13 (ANI): The artificial intelligence-led semiconductor boom has yet to show a strong spillover into South Korea’s broader economy, even as currency and financial stability concerns make a Bank of Korea rate hike in July increasingly likely, Nomura’s senior economist said Friday.

According to a report by The Korea Herald, Park Jeong-woo, South Korea and Taiwan senior economist at Nomura, said at the brokerage’s Korea Equities & Economy Media Briefing in Seoul that the key question for the economy is not whether chips and stocks are strong, but whether that strength is feeding into domestic demand.