The Bank of Korea’s (BOK) reported rejection of semiconductor peak concerns highlights the central tension facing South Korea’s economy: chip demand still looks strong, but the global artificial intelligence (AI) spending boom behind that demand is becoming harder for markets to price with confidence.

According to Korean media reports on Monday, the BOK argued that the global semiconductor cycle has not passed its peak because AI infrastructure investment continues to lift demand while supply expansion remains slow, especially for high-performance and customized products such as high-bandwidth memory (HBM).

The central bank’s view provides institutional cover for the Lee Jae Myung