Nearly half of the manufacturing firms in South Korea feel that business conditions have deteriorated further compared to March-April, when the COVID-19 spread was at its peak, a survey by the Korea Chamber of Commerce and Industry showed.
The survey on 308 companies showed that 45.2 percent felt business conditions were harsher this month. Some 46.3 percent said they were similar, while only 8.5 percent saw an improvement.
Automobiles and shipbuilding felt the strain the most in securing capital, while semiconductors, electronics and machineries cited exports. Steel, pharmaceuticals and food sectors said they were struggling the most in domestic sales.
Eight out of 10 surveyed companies anticipated a decline in their annual revenue.