OECD Cuts Korea's Growth Outlook

  • Arirang News

    June 11, 2020 08:28

    Korea's economy is forecast to contract by 1.2 percent this year in a revised prediction by the OECD on Wednesday.

    The rich countries' club said its forecast is based on a single-hit scenario where a second wave of coronavirus infections is avoided. But it projected that Korea's GDP would shrink by 2.5 percent should there be a second wave.

    Among the 20 OECD member countries, the report said Korea's drop is one of the lowest since the Korean government's swift response limited the damage to the domestic economy.

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