The International Monetary Fund(IMF) has maintained its growth forecast for South Korea at three percent for this year and two-point-nine percent for next year. 

The IMF released the estimates in its World Economic Outlook report on Tuesday, unchanged from its previous estimates in February.

In the February report, the IMF said that the country's growth rate will slowly decrease to two-point-eight percent in 2020 and two-point-six percent in 2022.  

It also projected South Korea's growth potential will shrink to an annual average of two-point-two percent in the 2020s and fall to around the one percent level in the 2030s due to a decrease in the labor population.