A senior Standard & Poor's(S&P) executive has projected that South Korea’s economy will annually post growth in the upper two percent range until 2019.
 
Kim Eng Tan, S&P's Asia-Pacific senior director of sovereign ratings, unveiled the projection on Wednesday in Seoul during a seminar on credit risks organized by the Korea Center for International Finance.
 
Tan said South Korea has seen a decline in credit risks as it has fared relatively well in terms of economic fundamentals, fiscal soundness and monetary policy credibility.
 
He said South Korea’s economy has an industrial structure that is appropriately distributed and has globally competitive companies. He then projected that South Korea will post economic growth of two-point-nine percent annually between 2016 and 2019 to outperform most advanced countries, despite a drop in trade.
 
Tan also forecast that South Korea’s per capita gross domestic product will top 30-thousand dollars in 2019 from this year’s 27-thousand dollars.