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Minimize damage

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Quick, resolute measures are also needed for firms

While the government is making all-out efforts to prevent the spread of a new strain of coronavirus here, concerns are also growing that the global reach of the virus will hit Korea Inc. hard. The new virus has so far had a limited impact on the domestic economy, but it may do much damage to exports, consumption and overseas production, especially in China, in the coming days ― possibly for months.

This is surely not good for the export-oriented Korean economy. Fears of a global pandemic may reduce outbound shipments considerably. Quick and resolute responses are necessary in all economic sectors to minimize........

© The Korea Times