[Photo] IMF projects 2% growth for S. Korea in 2019, down from 2.2% in April

In its World Economic Outlook database, the International Monetary Fund (IMF) has adjusted its 2019 growth outlook for South Korea to 2%, a decrease of 0.6 percentage points from the 2.2% outlook it reported in April. The IMF pointed to the prolonged US-China trade war and China’s economic slowdown negatively impacting South Korea’s economy. The IMF also predicted that global economic growth would be a mere 3.4% for 2020. The photo shows shipping containers at Sungdong Shipping and Marine Engineering in Tongyeong, South Gyeongsang Province, which has suspended operations for the past two years. (Kim Bong-gyu, staff photographer)