ADB projects S. Korea's 2025 economic growth at 1.5%, down 0.5% from December forecast

The South Korean economy is projected to grow 1-point-5 percent this year.

This is according to the Asian Development Bank in its latest projection which is lower than the two-percent growth forecast made back in December.

The bank cited a host of internal and external factors as reasons behind its downward revision.

Domestically high interest rates household debt and political uncertainty were underscored as risk factors while internationally uncertainty over global demand weighed on the bank's outlook for South Korea.

Pundits meanwhile believe a further cut in growth forecast may be possible as this recent report by the bank did NOT take into account U.S. tariffs on Korean exports.