KOREAN NET

The Organisation for Economic Co-operation and Development (OECD) has maintained its growth forecast for the Korean economy at 1% this year, the same as in June. Shown are stacked containers on Aug. 7 at Pyeongtaek-Dangjin Port in Pyeongtaek, Gyeonggi-do Province. (Yonhap News)

By Kim Seon Ah

The Organisation for Economic Co-operation and Development (OECD) has maintained its growth outlook for the Korean economy this year at 1%, the same rate as in June.

The Ministry of Economy and Finance on Sept. 23 said this in quoting the OECD's interim economic outlook released that day. In December last year, the Paris-based group forecast 2.1% for 2025 but lowered it to 1.5% in March and 1% in June.

This projection is slightly above those of the Korean government and the Bank of Korea of 0.9% and those of the Korea Development Institute and International Monetary Fund (0.8%).

The OECD said the Korean economy will continue recovery and maintained its forecast for next year of 2.2%, also the same as in June.

The ministry said, "Growth in leading economies next year overall is expected to slow from this year, but Korea's recent recovery is expected to continue, with growth next year expected to top this year's by a wide margin."

Domestic inflation this year was estimated at 2.2%, up a tenth of a percentage point from June, and 1.9% next year, down a tenth of a point.

sofiakim218@korea.kr