Seoul: The Asian Development Bank (ADB) has maintained its 2025 growth outlook for the South Korean economy at 0.8 percent, as stated by Seoul's finance ministry on Tuesday. This projection remains unchanged from the bank's July forecast, where it had revised its earlier prediction of 1.5 percent growth down to 0.8 percent.

According to Yonhap News Agency, the ADB's decision to uphold its forecast is influenced by factors such as slower export growth, a sluggish construction sector, and a weak real estate market. This outlook is slightly more conservative compared to the 0.9 percent growth predictions made by the Bank of Korea, the South Korean government, and the International Monetary Fund.

The Organization for Economic Cooperation and Development has offered a more optimistic projection, estimating a 1 percent growth for South Korea's economy. The variance in these forecasts highlights the uncertainties and challenges facing the South Korean economic landscape over the next few years.