ADB Slashes Korea Growth Outlook

The Asian Development Bank has once again slashed its forecast for Korea's economic growth this year in its latest report released on Thursday.

The ADB cut the outlook to -1 percent after slashing it in April from 2.3 to 1.3 percent. That would be the lowest growth in 59 years.

But next year, the report said, the Korean economy will grow by 3.5 percent.