The International Monetary Fund(IMF) forecasts South Korea to report a sizable current account surplus this and next year even though the surplus amount in proportion to the size of its economy will likely decrease.

In its regional economic outlook report released Friday, the IMF said that South Korea's current account surplus in proportion to its gross domestic product(GDP) is expected to dip below six percent.

It forecast five-point-six percent for this year and five-point-four percent for next year, down from seven percent last year.

The current account balance as a percentage of GDP is one condition the United States considers when designating currency manipulating countries.

The U.S. Treasury will announce a report Sunday assessing the currency manipulation of its key trading partners.