Economic Growth Forecast - The South Korean government has revised its GDP growth forecast for 2023 to 0.9%, down from the previous estimate of 1.8% made in January, primarily due to internal political turmoil and external factors such as U.S. tariffs [1] - The revised growth forecast aligns with predictions from international organizations, including the IMF and ADB, which estimate growth at 0.8%, while the OECD predicts a growth rate of 1% [1] Semiconductor Industry Impact - The forecast does not account for potential U.S. tariffs on semiconductor products, despite President Trump's threat of a 100% tariff on imported semiconductors announced in early August [1] - In 2022, South Korea's total exports reached a record $683.8 billion, with semiconductor exports amounting to $141.9 billion, marking a significant year-on-year increase of 43.9% [1] AI and Innovation Strategy - In response to economic challenges, the South Korean government has introduced a new economic growth strategy focusing on "AI transformation" and "super innovation" to stimulate growth [2] - The strategy includes 30 major AI and innovation projects, with 15 projects dedicated to AI applications in various sectors such as robotics, automotive, shipbuilding, semiconductor manufacturing, home appliances, and drones [4] Investment and Funding - The government plans to establish a "National Growth Fund" of 100 trillion KRW (approximately 516 billion RMB) to support these projects, with half of the funding coming from government sources and the other half from private investors and financial institutions [4] - The Ministry of Trade, Industry and Energy has announced plans to invest 140 billion KRW by 2028 to promote AI transformation projects across 10 industrial parks [4] Long-term Economic Goals - The South Korean government aims to position the country among the top three AI nations globally and increase its potential economic growth rate to 3% through these initiatives [4]