The central bank said in its monetary and credit policy report, submitted to the National Assembly, that a possibility was increasingly growing for the memory chip market to recover in consideration of the moves of leading economic indicators.
Tech companies delayed the purchase of chips on expectations for additional price declines, but the falling pace of price slowed down recently, raising a possibility for the tech firms to start purchasing chips, according to the BOK.
Revenue of companies producing semiconductor equipment, which is seen as a leading indicator of the chip market, expanded recently.
The BOK forecast that the business cycle of the global memory chip market and South Korea's chip export would get back into a recovery track around the middle of next year.
Export, which takes up about half of the South Korean economy, kept falling for the 12th consecutive month through November due mainly to the downturn of the global chip market and the global trade dispute.
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