About 81 percent of the total firms surveyed predicted South Korea's economic conditions to worsen this year.
South Korea is reeling from the fast spread of the new coronavirus. As of Wednesday, the country had more than 5,300 coronavirus patients, with the death toll standing at 32.
According to the findings, 74 percent of the companies said South Korea's labor policies such as a shorter workweek and the increased minimum wage are most burdensome.
South Korean enforced a 52-hour workweek in July 2018 to help improve work-life balance for workers. In 2019, Seoul raised the country's minimum wage by 10.9 percent to 8,350 won (US$7.03) following a 16.4 percent spike a year earlier.
Nearly 23 percent of the respondents also said the business climate in Asia's fourth-largest economy has deteriorated over the past five years. (Yonhap)