NSP NEWS

(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.