The Asian Development Bank(ADB) has lowered South Korea’s growth outlook for this year to two-point-one percent. 

It marks a zero-point-three percentage point downgrade from the institutions’ previous outlook in July. 

The growth projection for Asia's fourth-largest economy for 2020 was also cut by a tenth of a percentage point to two-point-four percent. 

The ADB cited lower-than-expected growth for the country in the first half of this year for the downward revision along with global trade tensions and Japan’s export curbs on South Korea. 

The average outlook on 45 Asian countries was also lowered by zero-point-three percentage points to five-point-four percent for this year and by zero-point-one percentage point to five-point-five percent for next year.