The headquarters of the Korea Enterprises Federation in Seoul is proven on this undated photograph. Courtesy of Korea Enterprises Federation
A majority of Korean firms anticipate the nation to endure vital financial difficulties this 12 months attributable to deteriorating enterprise situations, a ballot confirmed Thursday.
Within the survey carried out by the Korea Enterprises Federation (KEF) on 508 firms with over 50 staff in January, 96.9 % of responding companies mentioned they anticipate the nation to expertise financial difficulties in 2025.
Among the many respondents, 22.8 % anticipated the extent of financial woes to be extra extreme than throughout the 1997 monetary disaster, whereas 74.1 % anticipated vital financial difficulties, although not on the identical degree as in 1997.
When requested in regards to the detrimental financial affect of the nation’s ongoing political instability, 47.2 % cited weakened export competitiveness attributable to elevated international alternate volatility, adopted by deterioration of shopper sentiment at 37.8 % and funding uncertainty 26 %.
Relating to monetary burdens and regulatory challenges, 38.4 % of the companies cited larger labor prices, whereas 28.3 % cited strict industrial security laws.
„With the tightening of worldwide commerce laws and home political instability, our companies are dealing with an more and more unpredictable surroundings,“ a KEF official mentioned, whereas urging the federal government to introduce regulatory reform measures to encourage company funding and job creation. (Yonhap)
