The Korea Development Institute(KDI) is expected to lower the nation’s economic outlook for this year to the two percent range. 
 
According to related agencies on Friday, the state-run think tank is set to release an economic outlook report around May 24th.
 
Last December, the institute forecast that South Korea’s economy will post growth of three percent this year on the premise that the world economy will see three-point-six percent growth.
 
The three percent projection is down one-tenths of a percentage point from a projection the institute had issued in May of that year.
 
The institute is expected to reduce the outlook because economic conditions on which it had based its projection last December have worsened.