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South Korean finance minister expects chip boom to last at least until 2027
South Korean Deputy Prime Minister and Finance and Economy Minister Lee Hyoung-Il expects the semiconductor boom to last at least until 2027, citing a large supply-demand gap and continued supply expansion. He said chip stocks have intensified South Korean stock-market volatility, but economic fundamentals remain solid. The industry has also boosted tax revenue, with this year's receipts expected to exceed earlier forecasts.
What to know
- 01
Samsung, SK Hynix and Seoul Semiconductor shares were sold off amid investor concerns about Federal Reserve rate hikes and intensifying industry competition.
- 02
Lee attributed the sharp market swings to the semiconductor industry's greater economic weight in South Korea than in other countries.
Why it matters
The remarks highlight the semiconductor industry's links to South Korea's stock-market volatility and tax performance.
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