More bad new for the already struggling domestic economy... as analysts have further lowered their forecasts for Korea's growth rate for the second half of the year.
Lee Kyung-eun reports.
The Korea Economic Research Institute now forecasts the local economy to grow 1-point-nine percent this year.
That's down three tenths of a percent from its earlier estimate in June of two-point-two percent.
In its report, the institute attributed the downgrade to sluggish exports and investment, and falling domestic consumption.
Other economic think tanks have also lowered their forecasts.
The Hyundai Research Institute now has the figure at 2-point-1 percent... down from 2.5 percent three months ago,... and the Korea Institute of Finance last month... also predicted 2.1 percent.
The Korea Development Institute has cut its forecast for six months in a row now... to 2-point-2 percent.
Korea's exports, which account for half of its GDP, fell for the ninth consecutive month in August on weakening global demand and the escalating U.S.-China trade dispute.
Investment also remains sluggish, with facilities investment in August down nearly five percent on year.
Inflation, due in large part to falling oil prices and weak consumer demand, has been below 1 percent all year, and actually turned negative last month for the first time, triggering fears of deflation.
Many experts think the near future will be even more uncertain... because of big picture factors like Korea's aging society and the ongoing trade wars.
Lee Kyung-eun, Arirang News.