Semiconductor market to remain solid ‘at least through next year,’ South Korea finance minister says

The semiconductor boom will last at least through 2027, South Korean finance minister Lee Hyoung-Il said on Saturday. "For now, our view is that we can sustain this growth at least through next year," Lee told CNBC on the sidelines of the IMF-World Bank annual meetings in Bangkok. "That's because the gap between demand and supply for semiconductors is still very wide, and supply is still being expanded." His comments come after semiconductor stocks fell sharply this week, hurt by investor concerns about interest rate hikes and rising competition from Chinese companies. South Korean chip stocks like SK Hynix and Seoul Semiconductor were part of the sell-off, along with U.S. giants like Nvidia .