Global institutions continue to forecast S. Korea's growth at under 1%

The outlook for the Korean economy from major domestic and international institutions is becoming increasingly bleak.

More than 20 institutions are forecasting a growth rate under one percent this year, while the average growth rate forecast has fallen to zero-point-nine percent in just four weeks.

France's Société Générale even forecast zero-point-three percent growth, less than half of the Bank of Korea's forecast of zero-point-eight percent.

According to the Bank of Korea on Monday, as of May 30th, the growth rate forecast for Korea this year from 41 domestic and international institutions ranges from zero-point-three percent to 2-point-2 percent.