The Organization for Economic Cooperation and Development(OECD) has raised next year's South Korean growth forecast to three percent.  

The OECD made the projection for the country in its economic outlook report on Wednesday, raising point-one percentage point from its September estimate of two-point-nine percent growth.  

Revising up its 2022 growth estimates for the country for the second straight time, the OECD assessed the Korean economy continues to recover thanks to brisk exports and investment amid eased social distancing.   

The OECD maintained South Korea's growth outlook for this year at four percent.  

The OECD also raised its forecast for Korea's inflation for this year to two-point-four percent from its earlier estimate of two-point-two percent. 
 
Meanwhile, the global economy was projected to grow five-point-six percent this year and four-point-five percent next year.