The Organization for Economic Cooperation and Development(OECD) has lowered its 2016 economic growth outlook for South Korea to two-point-seven percent. That’s down four-tenths of a percentage point from a projection issued last November.
 
In its latest Economic Survey of Korea, the OECD projected that South Korea will post growth of two-point-seven percent this year and three percent next year.
 
The report said that South Korea needs to "boost productivity, increase employment and stoke economic activity as part of efforts to reverse current trends toward slower growth and low inflation.”
 
It also recommended that Seoul use monetary policies to sustain growth this year and next year, while setting strategies in a framework that ensures the country's long-run fiscal sustainability.