SEOUL, Oct. 15 (Xinhua) -- Samsung Economic Research Institute (SERI), one of South Korea's major think tanks, said Wednesday that the nation's economy is expected to grow 3.6 percent next year.
The forecast is lower than the 2008 GDP growth estimate of 4.4 percent by the institution.
"Amid a global economic slowdown, South Korea's exports will likely grow at a single digit pace next year," SERI said in the report.
The report cited that the country is depending solely on exports to prop up its economy amid sluggish domestic consumption.
However, the impact of U.S.-sparked financial turmoil spreads has already slowed the country's export market which dims nation's growth outlook, it said.
