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S. Korea: Survey - 9 Out of 10 Firms Believe Economy Not Recovering |
| Source: |
world.kbs.co.kr |
| Source Date: |
Wednesday, July 24, 2013 |
| Focus: |
Electronic and Mobile Government, Citizen Engagement, Internet Governance
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| Country: |
Korea (Republic of) |
| Created: |
Jul 31, 2013 |
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A new survey finds that nine out of ten domestic firms aren’t positive about South Korea’s economic recovery. The Korea Chamber of Commerce and Industry polled 500 business firms and 87 percent said they were not feeling the recovery. More than 40 percent cited poor sales, 28 percent falling profits and 23 percent a drop in orders as reasons for the downbeat attitude. Firms’ second-half outlook wasn’t much rosier. Nearly 27 percent projected that the economy will get worse and just 21 percent said it will improve. The Korea Chamber of Commerce and Industry forecast that business firms are likely to face difficulties in the latter half of the year due to uncertain factors at home and abroad, including a global economic slump and a drop in domestic consumption.
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