South Korean economy to grow 3% in 2022: IMF

The International Monetary Fund (IMF) has maintained its 3% growth outlook for the South Korean economy this year, despite heightened economic uncertainty. The IMF said exports and investment will likely remain robust this year. The international lender first made its 3% growth forecast in January. For next year, the IMF expects the South Korean economy to slow down to 2.8% from an earlier forecast of 2.9%. The Washington-based organisation said South Korea's economic growth is projected to remain robust in 2022 and 2023 on the back of continued strong exports and investment.