Will South Korea's economy decline because of the epidemic? At present, the new type of coronary pneumonia in Korea has little impact on the economy, and various businesses are still in business.
Today, there are more than 5,000 confirmed cases and more than 1 10,000 potential infections in South Korea, but the Korean economy has not collapsed. The most important reason is that Koreans are not worried about the epidemic except those who go out to Daegu and other areas.
On-the-spot interviews by Korean media show that Korean people have a wrong understanding and understanding of novel coronavirus, and their attitude towards the epidemic is very lax. Various businesses in Seoul, South Korea are still operating normally, and restaurants, bars and other entertainment venues are still overcrowded, which has not been affected or impacted at all. South Koreans generally believe that novel coronavirus will only affect the weak, while healthy people will not be affected.
What impact does the Korean epidemic have on the economy? Many factories such as Hyundai and Samsung in South Korea stopped production due to the epidemic. At first, due to the outbreak of epidemic in China, the factory was completely shut down, resulting in a shortage of spare parts. Now, because there are many cases of COVID-19 among workers, they have to stop production.
If the epidemic spreads further, more countries will impose entry restrictions on South Korea and even cut off trade routes, which will be fatal to South Korea's economy.
Of course, the United States has not imposed entry restrictions on South Korea, while Japan has imposed entry bans on Koreans who have been to major epidemic areas in South Korea. However, this is only temporary. ...
South Korea's automobiles, shipbuilding, steel, electronics, petrochemicals, cosmetics, etc. Are highly dependent on the world. On the one hand, the domestic production capacity began to decline, on the other hand, the entry restrictions around the world and the upcoming suspension of flights were enough to crush the Korean economy this year and next.
Is it free to treat the epidemic in Korea? Even though the economy may experience negative growth, the South Korean government has shown its due responsibility. The cost of testing and treatment for COVID-19 patients is borne by the Korean government. However, under the epidemic situation, what the South Korean government is most worried about now is not the economic development situation, but the affordability of the domestic medical system. In the words of Korean media, South Korea's medical system is on the verge of collapse, and the medical system may collapse before the financial system because there are not enough beds in negative pressure wards in South Korea.
If the Korean medical system collapses, many confirmed cases will have no place to receive treatment, and it will be more difficult for the Korean government to control the epidemic. If the epidemic spreads further, the impact on the Korean economy will be more serious. Therefore, the urgent task of the Korean government is to control and stabilize the epidemic in order to restore the economy.
Related news On the 5th, the State Council held a press conference. Ma Zhaoxu, Vice Minister of Foreign Affairs said that we really feel the same way about the recent aggravation of the Korean epidemic. China is willing to provide all necessary assistance to South Korea and fully support the Korean government and people in fighting the epidemic. The Government of Southern China will soon provide a batch of urgently needed medical assistance to South Korea. In fact, China has provided or will provide assistance to South Korea, especially Daegu City and Gyeongsangbuk-do, where the epidemic is serious. At the same time, we are also discussing with the ROK to establish a joint prevention and control mechanism, and suggest that the ROK also strengthen cooperation in this area, including the existing information communication and exchange between counterpart departments such as health, quarantine, customs and immigration. He expressed the hope that both sides can act together and coordinate their actions to fight the epidemic more effectively, especially the transnational circulation of the epidemic.