The Asian Development Bank(ADB) has predicted the South Korean economy will grow three percent this year before its growth slows down next year. 

The bank disclosed the predictions on Wednesday in its latest outlook for 45 Asian countries. 

It said South Korea will be able to again enjoy an annual growth in the three-percent range following three-point-one percent growth last year thanks to improvements in consumer sentiment and the growth in consumption during the PyeongChang Winter Olympics. 

The bank said that on average the Asian economies will grow six percent this year and five-point-nine percent next year. The average annual growth in the region last year was six-point-one percent.