Bank of Korea Raises Growth Forecast.

The Bank of Korea (BOK) revised its economic growth outlook upward to 2.0%, a slight increase from its previous 1.8% estimate. The central bank attributed this optimism to a massive boom in semiconductor exports and strong facility investments. While the numbers look good on paper, Governor Rhee Chang-yong noted a growing polarization in the economy: the high-tech IT sector is thriving, while non-IT industries and private consumption struggle to keep pace due to high grocery and household prices.

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