Goldman Sees ‘AI-Driven Super Surplus’ Swelling in Korea, Taiwan

South Korea and Taiwan’s artificial intelligence-fueled chip booms are set to swell both economies’ current-account surpluses to fresh records and pressure their central banks to raise interest rates later this year.

That’s according to Goldman Sachs Group Inc. economists led by Andrew Tilton, who now expect two 25-basis point interest rate hikes in Korea in the third and fourth quarter, and two 12.5-basis point increases in Taiwan in the second and fourth quarters.

The analysts see the tech-export surge pushing what they call the “AI-driven super surplus” in current accounts above 10% of gross domestic product in Korea in ...