emirates7 - The Asian Development Bank (ADB) has revised its 2025 growth forecast for the South Korean economy downward to 2 percent, according to Seoul's finance ministry on Wednesday.

This updated estimate represents a 0.3 percentage-point decrease from the ADB's previous projection in September, the ministry noted, referencing the latest report from the Manila-based institution.

As reported by Yonhap News Agency, the new projection aligns with the growth estimates of the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD).

The ADB attributed the slowdown to weakening export momentum, primarily driven by a slump in the semiconductor industry, despite the positive impacts of interest rate cuts and improved government policies.