The OECD has held South Korea's economic growth estimate for 2018 steady at two-point-seven percent,... unchanged from its previous projection a couple of months ago. <br />It advised Seoul to keep an eye on the speed of its minimum wage hikes. <br />Kim Hyo-sun tells us more. <br />The South Korean economy is expected to achieve 2-point-7 percent growth this year,... the same pace predicted by the OECD in September. <br />According to the OECD report published on Wednesday,... Asia's fourth largest economy is expected to grow 2-point-8 percent next year.<br />It adds that Seoul must continue to carry out its income-led growth strategy together with economic reform. <br />The report also says hikes in the minimum wage should be moderated to avoid a negative impact on the country's employment level.<br />In the fiscal sector,... South Korea was advised to devise a long-term fiscal policy to get itself ready for an aging society. <br />As for South Korea's monetary policy,... the OECD highlighted the need to normalize its monetary policy,... considering the nation's low inflation and financial risks like household debt. <br /> The OECD pointed to improved relations with North Korea as a major positive,... while explaining that global trade protectionism remains a concern for Seoul. <br />The organization forecasts the global economy to grow 3-point-7 percent this year,... unchanged from its forecast made three months ago.<br />It downgraded next year's forecast for global growth to 3-point-5 percent. <br />Kim Hyo-sun, Arirang News. <br />
