# Bank of Korea Official Sees Faster Chip Volume Growth in 2027 By John Kim Canonical URL: https://www.tokenpost.com/news/business/41811 Published: 2026-10-27T15:06:15.000Z Updated: 2026-10-27T15:06:15.000Z Section: Business > Lee did not quantify the increase and expects semiconductor prices to keep rising more slowly than in 2026. A Bank of Korea (BOK) official expects South Korea’s semiconductor production volume to grow faster in 2027 than in 2026 as high-bandwidth memory output rises, following chips’ large contribution to third-quarter growth. Lee Dong-won, director general of the BOK’s Economic Statistics Department, gave the outlook Monday, Oct. 26, ET (Tuesday, Oct. 27, in Seoul). Lee expects semiconductor prices to keep rising, but at a slower pace than in 2026. He linked the volume outlook to higher production of high-bandwidth memory, or HBM, used in AI computing. He did not provide a growth rate for output or a timetable for when price increases would slow. Preliminary figures put South Korea’s real gross domestic product (GDP) growth at 1.0% quarter over quarter and 3.4% year over year in the third quarter. Exports rose 2.3% quarter over quarter, facilities investment increased 4.1% over the same period, and private consumption fell 0.2% quarter over quarter. Real gross domestic income rose 3.4% quarter over quarter and 18.8% year over year. The GDP figures cover the third quarter, while Lee’s semiconductor volume comparison is for 2027 against 2026. Lee estimated semiconductors accounted for about half of year-over-year GDP growth in the quarter. He also estimated computer, electronic and optical products accounted for about 60% of that growth. The contribution estimate provides context for the production outlook, but Lee did not forecast the sector’s contribution to GDP in 2027. His remarks indicate the expected direction of production growth without giving its scale. On Oct. 22, the BOK projected stronger growth than in its previous outlook, with semiconductor gains and spillovers to other sectors supporting the economy. It also identified uncertainty around the chip cycle. The forecast follows [South Korean Finance Minister Lee Hyoung-Il’s earlier expectation that the semiconductor expansion would continue through 2027](). He tied that view to demand exceeding supply as chipmakers added capacity. At an August economic-outlook briefing, another BOK official said the bank’s outlook assumed the expansion would last through at least the first half of 2027. The official said AI demand and chipmakers’ supply growth would influence when the cycle later peaked. ## Links in this article - [South Korean Finance Minister Lee Hyoung-Il’s earlier expectation that the semiconductor expansion would continue through 2027](https://www.tokenpost.com/news/business/34139)