Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) jeonghyun go Journalist = The Federation of Korean Industries did research on ‘The effect of COVID-19 in the long run on overall industries, and 9 out of 10 responded that they have experienced a decrease in their performances.

After the outbreak of COVID-19, it has shown that sales and operating profits have been decreased by 17.5% and 19.0% respectively compared to last year.

If the current situation would last longer, sales and operating profits are expected to drop to 24.0% and 23.3%, which may end up worsening the situation.

In particular, main industries supporting our economy were expected to struggle with decreased exports by 6.6%. However, it could last longer and drop to 17.2% if the downward trend would continue.

The employment expected to drop to 4.4% on average and 1.8% with main fields also is to be decreased by 10.5% and 5.7%.

The research was for Construction of Association of Korea, Korea Association of Machinery Industry, The Korean Information Display Society, KSIA, KPIA, KAMA and etc.

NSP News Agency jeonghyun go Journalist gojh89@nspna.com
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