We begin with gloomy outlook for the South Korean economy.<br />The OECD has AGAIN slahsed its growth outlook on Asia's fourth-largest economy for 2019. <br />Making matters all the more concerning, it's the OECD's third downward revision for South Korea since March.<br />The organization's outlook for the global economy isn't much better either.<br />Kim Mok-yeon reports.<br /> <br /> The OECD has lowered its 2019 growth forecast for the South Korean economy to two-point-one percent... down point-three-percentage-points compared to its earlier estimate in May.<br />The OECD's Interim Economic Outlook report for September said the South Korean economy will grow at a slower pace than its previous forecast of 2.4 percent, citing persistent weak global trade and soft import demand in China.<br /> However, the OECD forecast the South Korean economy to grow two-point-three percent in 2020, faster than this year, saying the government's recent efforts on macroeconomic policies could lead to increased domestic demand.<br />The latest downward revision comes amid concerns over slowing exports caused by the ongoing U.S.-China trade war and a trade row between South Korea and Japan.<br /> However, the South Korean government stressed that the OECD forecast is relatively good compared to other member states with similar-sized economies to South Korea.<br /> The OECD also cut its growth outlook for the world economy for this year and next year, to 2.9 percent, and 3 percent respectively, each were downwardly revised by point-three percentage points from its May forecast.<br />The OECD pointed out that such figures would be the weakest annual growth rates since the global financial crisis in 2009.<br /> The report cited trade policy tensions as the major factor for the cuts, and stressed the need for collective efforts to stop the build-up of trade-distorting tariffs and to restore a transparent rules-based system that encourages businesses to invest.<br />Kim Mok-yeon, Arirang News. <br />
