The state-run Korea Development Institute is expected to cut its growth outlook for the nation,... in line with projections by major financial institutions for Korea to grow in the two-percent range this year.<br />Park Se-young has the details. <br />It's seems almost certain that Korea's growth this year will be in the two-percent range, amid worsening market conditions at home and abroad.<br />According to Seoul-based Yonhap News Agency, citing unnamed sources, the state-run Korea Development Institute could lower its growth outlook to that level sometime in the middle of the month.<br />The think tank usually announces its growth projections twice a year, in May and December.<br />In its December outlook, KDI cut its forecast from three-point-one percent to the current three percent, based on projections for the global economy to grow three-point-six percent this year.<br /><br />Since then, however, global economic conditions have worsened.<br />The IMF lowered its global growth forecast from three-point-six percent in December to three-point-two percent in April.<br />It also slashed its growth outlook for Korea, which relies heavily on exports, to two-point-seven percent from two-point-nine percent.<br />Other institutes in Korea have already lowered their projections, with most expecting growth in the two-percent range.<br /><br />The government's economic outlook for this year stands at three-point-one percent, but many say it, too, is likely to cut its projection when it releases its economy management plan late next month.<br />Park Se-young, Arirang News. <br /><br />
