[Photo] IMF lowers projection of South Korea’s 2018 growth rate to 2.8%

The International Monetary Fund (IMF) projected a growth rate of 2.8 percent for South Korea this year, adjusting its original outlook of three percent. The Bank of Korea (BOK) also hinted that it will adjust its original outlook of 2.9 percent to a lower figure. In its World Economic Outlook report, the IMF predicted a GDP growth rate of 2.8 percent for South Korea in 2018 and 2.6 percent for 2019, respectively 0.2 and 0.3 percentage points lower than its outlook in April.