Outbreak causing rapid deterioration in S. Korean economy: KDI

KDI "코로나19 확산으로 한국 경기 전반 빠르게 위축"

Of course, the outbreak has been hurting the South Korean economy.
In a report published today, the Korea Development Institute said last month the outbreak caused exports to contract, especially those to China.
KDI says average daily exports in February were down 12-point-2 percent.
Sentiment about the economy has also been hit hard.
The business sentiment index for all industries... fell from 75 to 65,... a level last seen in the financial crisis.
There's also been a surge of volatility in the value of the Korean currency and stocks.
KDI said if the outbreak persists, then fewer jobs will be created, especially in the service sector.

#COVID19 #coronavirus #SouthKorea

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