OECD Holds Fast to Growth Outlook for Korea

The OECD has forecast the Korean economy to grow 3.8 percent next year. This is in line with a previous prediction presented earlier this month ahead of the G20 summit in Brisbane, Australia.

The Paris-based organization says the Korean economy is gradually picking up steam, with output projected to grow on the back of the government's expansionary monetary policies. It said, however, that mounting household debt could constrain private consumption.

The organization says the Korean economy should grow 4.1 percent in 2016.

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