Investment Banks Raise Growth Forecasts for Korea

Major global investment banks have revised up this year's forecasts for Korea's growth.

The Korea Center for International Finance said Thursday that Korea's GDP is forecast to grow at an average of 3.4 percent by nine investment banks, including Goldman Sachs, JP Morgan and UBS. The figure was up 0.1 percent from the one they forecast last month.

The global economy is expected to grow 5.7 percent this year.