The government is expected to announce its economic policy direction for the second half of the year next week, but it is still unclear if the economic growth target of two-point-six to two-point-seven percent will be revised.

Meeting with auto industry officials earlier this week, Finance Minister Hong Nam-ki said the government was in the final stages of reviewing the economic policy direction for the year's latter half and it will be announced around Wednesday.

He also hinted earlier this month that revisions may take place by saying that various indicators such as growth, employment and exports will be examined and adjustments will be made if necessary.

The government's current target for this year is two-point-six to two-point-seven percent growth.

With the exception of the International Monetary Fund forecasting two-point-six percent growth for South Korea, the growth outlook projected by other domestic and foreign agencies are all lower than the government target.

In a speech marking his second year in office last month, President Moon Jae-in said that more efforts are necessary to meet the goal of two-point-five to two-point-six percent annual growth this year.