Seoul:President Lee Jae Myung on Tuesday expressed optimism over the recent increase in South Korea's potential growth rates, describing it as "a dramatic rebound" in the country's economic resilience.

According to Yonhap News Agency, President Lee conveyed his positive outlook through a message on his X account, highlighting the International Monetary Fund's (IMF) recent upward revision of South Korea's potential growth rate projections to 2.14 percent for this year and 2.2 percent by 2027.

These revised projections signify the first consecutive annual increases in approximately 40 years. President Lee emphasized that the projections mark the first back-to-back increases since the late 1980s, a period characterized by favorable economic conditions such as low oil prices, low interest rates, and a strong South Korean won against the U.S. dollar.

President Lee further noted that this trend represents a significant recovery in the nation's economic fundamentals. He underscored the importance of sustaining this growth and ensuring that its benefits are equitably distributed among all sectors of society.