Moody's Investors Service on Tuesday revised up South Korea's growth forecast for this year to 4 percent on strong exports.

In its report on world economic outlook, the rating agency adjusted South Korea's gross domestic product growth outlook from its previous estimate of 3.5 percent in May.

The nation's growth will continue to be supported by high demand across the globe for industrial products, especially electronics, the agency said.

Moody's also revised South Korea's growth outlook for next year from 3 percent to 3.2 percent, saying it expects a strong recovery in the country's economy. (Yonhap)