The Organization for Economic Cooperation and Development(OECD) has lowered its economic growth forecast for South Korea for both this year and next year, citing a slowdown in global trade. 

In its Interim Economic Outlook released on Wednesday, the OECD slashed South Korea’s growth forecast for this year to two-point-six percent, down from its earlier projection of two-point-eight percent.

It also downgraded the growth outlook for 2020 to two-point-six percent, down from the earlier projection of two-point-nine percent made in November of last year. 
 
The lowered forecasts are attributed to the economic slowdown in China and Europe and weakening global trade, as well as uncertainties from trade disputes between the U.S. and China.