Containers stacked up at a port in Busan on Aug. 1 [NEWS1] Global investment banks estimate Korea's economic growth will average 1.9 percent next year, down from the 2 percent projected in June, according to the Korea Center for International Finance on Monday. Eight investment banks, including JP Morgan and HSBC, made the forecast in late July. Goldman Sachs projected 2.6 percent of growth, followed by Barclays at 2.3 percent and Bank of America Merrill Lynch at 2.2 percent. The remaining five banks projected growth in the 1 percent range, with the lowest estimate of 1.

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