Economic Impact Will Rise Due To COVID-19, According To South Korea President Moon Jae-in
South Korea President Moon Jae-in said that the economic impact will rise due to coronavirus disease 2019 (COVID-19) pandemic, adding that his specific concern was on the decreasing massive jobs in the country.
Moon, in a policy meeting, said that the third supplementary budget of 2020 will arrive as South Korea’s growth readings were more likely to worsen in Q2 of 2020.
As per the report, the coronavirus disease 2019 (COVID-19) pandemic pushed the country’s economy in Q1 into its “biggest contraction” since 2008 as South Korea’s global trade flopped and its self-isolation measures reduced consumption.
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