AI chip demand ignites exports, South Korea's Q2 GDP exceeds expectations to "add fuel" to interest rate hikes.

The finance and economics app Zhitong has learned that the export prosperity driven by artificial intelligence chips continues to boost the South Korean economy, recording growth in the second quarter that exceeded expectations and providing support for the central bank to further raise interest rates. The South Korean central bank released data on Thursday showing that in the three months ending in June, the gross domestic product (GDP) grew by 0.6% quarter-on-quarter, compared to 1.8% in the previous quarter. This reading is higher than the market survey economists' median forecast of 0.4%.