Anchor: Wrapping up her week-long visit to Seoul, the International Monetary Fund's managing director Christine Lagarde forecast a rosy outlook for the Korean economy as well as setting out various challenges that it faces.
Our Oh Soo-young was at the press conference in central Seoul and has this report.
 
Report: The Korean economy is set to grow steadily in the face of geopolitical uncertainties, according to International Monetary Fund(IMF) managing director Christine Lagarde. 
 
The IMF chief on Monday forecast a three-percent growth rate for this year, in line with the Korean government's recent projection.
 
[Sound bite: Christine Lagarde – managing director, International Monetary Fund]
"I believe the Korean economy is very resilient and has demonstrated to be resilient in the face of adversity. It is strong- it has buffers, it is highly diversified, it has multiple trading partners, both ways, so in that sense and given the strength of the Korean people themselves, I’m confident that the economy will stand and hopeful that it will be resolved in a positive way."
 
After speaking with President Moon Jae-in on Monday morning, the chief expressed her support for the government's income-driven initiatives, saying they agree with the IMF's inclusive growth agenda.
 
In order to attain sustainable growth down the line, Lagarde stressed the need to address various challenges that the Korean economy faces, primarily the rapidly ageing demographic and a decline in labor productivity.
 
[Sound bite: Christine Lagarde – managing director, International Monetary Fund]
"A fair, legal framework, including in relation to part time work, the tax law that should be changed not to disincentivize the second income earner and sufficient budgets for childcare centers. The three can increase the level of the economy by about eight percentage points in the medium term and facilitate the entry of women in the work place."
 
Along with these efforts, the chief added that the government must also encourage trade and industry by promoting a fair competitive environment as well as support for innovation.
Oh Soo-young, KBS World Radio News.