Anchor: Top global organizations have forecast that South Korea’s economy will have difficulty emerging out of a two-percent range growth over the next two years. Economists are blaming weak exports amid the global downturn.
Our Bae Joo-yon has more.
 
Report: Global economic survey firm, Consensus Economics, projected in its January estimate that South Korea will see growth of two-point-eight percent this year and two-point-nine percent next year.
 
Consensus Economics compiles outlooks for countries based on analysis from around 700 economists across the world. The latest outlook for South Korea was a compilation of work by economists from 19 think tanks and investment banks, including the Economist Intelligence Unit, Goldman Sachs and Nomura Securities.
 
If the prediction is right, it will mean that South Korea won’t be able to emerge from a two-percent range growth for three straight years.
 
Previously, South Korea’s economy witnessed growth of below the two percent range for two straight years on two occasions. Once between 2008 and 2009 and the other between 2012 and 2013. In 2014, South Korea’s economy posted growth of three-point-three percent.
 
The South Korean government has forecast economic growth of three-point-one percent and the Bank of Korea three percent, which are relatively higher than forecasts of foreign agencies. However, with exports showing signs of decline, Shinhan Investment Corporation marked down its forecast for this year from three percent to two-point-eight percent.
 
Samsung Securities Company also cut its projection for 2016 from two-point-nine to two-point-seven percent last month. A company official said that the move came as the slump in South Korea’s exports are worsening due to emerging economies’ economic contraction and currency devaluation resulting from a sharp drop in raw material prices.
Bae Joo-yon, KBS World Radio News.