Major foreign investment banks(IB) have raised this year's growth outlook for South Korea for the third consecutive month. 

According to the Korea Center for International Finance on Tuesday, as of late February, nine major IBs, including Barclays and Goldman Sachs, forecast the South Korean economy to expand an average of three-point-six percent this year.

That is point-one percentage point higher than the forecast presented a month earlier. 

In December, they upgraded their outlook by point-one percentage point to three-point-four percent and raised it to three-point-five percent in January.