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On April 1, Min Joo Kang, an economist at ING Group, pointed out that South Korea's semiconductor-centric economic growth may slow down starting from the second quarter. Currently, chip manufacturers have not yet encountered significant raw material shortages due to the Middle East conflict, but inventories of key raw materials may be depleted in the coming quarters. She stated that if supply disruptions persist, the negative impact may become evident in the second half of 2026. Even if the conflict ends in the short term, it may still curb manufacturing activity and drive up costs. ING Group has lowered its GDP growth forecasts for South Korea for the second and third quarters, and revised down its 2026 GDP growth projection from 2.2% to 2.0%.
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