The Organisation for Economic Cooperation and Development (OECD) announced on Thursday a substantial upward revision in its growth forecasts for South Korea, projecting a growth rate of 2.6 percent in 2024. This marks a notable increase from the earlier forecast of 2.2 percent issued in February.
The upward adjustment extends to 2025, with the OECD now anticipating growth of 2.2 percent, up from the previous estimate of 2.1 percent.
In a broader context, the Paris-headquartered organization also revised its global growth forecast for 2024 to 3.1 percent, mirroring the forecast for 2023. This is followed by a slight uptick to 3.2 percent in 2025.
The revised projections underscore a positive outlook for South Korea’s economic trajectory and suggest continued stability in the global economic landscape over the forecast period.
