The Organization for Economic Cooperation and Development(OECD) has maintained its growth outlook for South Korea for this year at two-point-seven percent.

In its economic outlook released on Wednesday, the OECD projected South Korea's economy will grow two-point-eight percent next year, also unchanged from its earlier projection three months ago. It expected the economy will expand two-point-nine percent in 2020. 

The OECD said that in spite of a slowdown in global trade, South Korea's economic growth is projected to remain close to three percent through 2020 on the back of solid exports and expansionary fiscal policy. 

In September, the OECD slashed its growth outlook for South Korea for both this year and next year from its previous estimate of three percent made in May.