South Korea's economy beats forecasts on AI chip boom

South Korea's GDP grew 1% in the July-September quarter, or 3.4% year-on-year, far above the Bank of Korea's August forecast of 0.3% quarterly growth. Exports, about 45% of GDP, rose 2.3% on demand for semiconductors, machinery and electrical equipment. Facilities investment climbed 4.1%, but private consumption slipped 0.2%.