True
The Asian Development Bank (ADB) has upgraded its growth outlook for South Korea, lifting the forecast to 3.2% from a previous 2.6%. The revision reflects a rebound in semiconductor exports and a recovery in private consumption, according to the ADB's September 2026 economic outlook tables.
The upward revision is attributed to strengthening semiconductor exports, which have been a key engine of South Korea's export-led economy. The ADB's updated outlook incorporates the chip export recovery as a central factor supporting the higher growth projection.
Alongside export strength, the ADB cited a recovery in private consumption as grounds for the improved forecast. The combination of export momentum and domestic demand has underpinned the bank's decision to raise its growth estimate by 0.6 percentage points.
The figures appear in the ADB's September 2026 GDP and inflation outlook tables.
The claim that the ADB raised its South Korea growth forecast from 2.6% to 3.2%, citing semiconductor exports and recovering private consumption, is True.
