The economy is projected to maintain its global ranking as tenth largest in terms of nominal gross domestic product(GDP) for a third straight year in 2022.

According to the International Monetary Fund(IMF) on Sunday, South Korea's nominal GDP is estimated at one-point-82 trillion U.S. dollars, or two-thousand-166 trillion won, this year.

That makes the country the tenth largest economy among 191 countries. 

The IMF predicted the country's GDP will reach one-point-nine trillion dollars next year and rank tenth again. 

If the projections are realized, South Korea will retain the tenth place for three consecutive years from 2020.