Deep Tide TechFlow message: On September 30, Citigroup economist Jin Zhenxu said that although industrial production saw a temporary slowdown in August, South Korea’s economic growth rate is expected to be faster than previously forecast.

He noted that due to labor-management strikes and summer holidays in August, automobile production was temporarily halted, but the industry showed signs of recovery in September. Jin Zhenxu raised his GDP growth forecast for South Korea in 2026 by 0.1 percentage points to 3.8%, and raised his forecast for 2027 by 0.2 percentage points to 3.3%. He said the upward revision was mainly based on the recovery of the auto sector and on the overall strength of manufacturing driven by a semiconductor industry boom. Citigroup expects that South Korea’s economic expansion momentum, led by the chip industry, will continue through 2028. (Jinshi)