OECD: Korea’s potential growth rate dips below 2% for first time

South Korea's potential growth rate for this year is predicted to stand at 1-point-9 percent.

Now this is according to the OECD and is the lowest prediction since 2001 and the first time that the figure has fallen below two percent.

Also this rate has been steadily retreating since 2011.

The potential growth rate refers to the highest sustainable growth of an economy without sparking inflation under the assumption that all aspects of production like capital and labor are in operation.

The Lee administration has pledged to bolster Korea's potential growth rate back to three percent.