While South Korea’s major exporters managed to see a slight rise in revenue in the first half of this year, they will see a drop in the second half as the COVID-19 pandemic continues to pummel the economy worldwide, the Federation of Korean Industries said in its report.
The six major export industries saw their revenue inch up by 0.3 percent on average on-year, but anticipate it to decline by an average of 4.2 percent in the second half, the FKI said citing a survey it conducted on respective industry associations.
The associations said in the survey they do not expect to see recovery until at least the second half of 2021 if the COVID-19 spread continues at the current pace.
(
khnews@heraldcorp.com)
