South Korean economy shaken by MERS

(Baonghean.vn)- According to the latest announcement from the Korean government, as of June 17, the MERS epidemic has not only claimed the lives of 20 people and infected 162 others, but has also severely affected the country's economy.

South Koreans have been avoiding crowded areas since the Mers outbreak. (AP Photo).

Seoul authorities said the MERS outbreak is having a negative impact on the economy, especially severely affecting the tourism industry of Korea. The Korea Tourism Organization (KTO) estimated that about 108,100 tourists from countries such as China, Taiwan and Japan have canceled their trips to the country after the MERS outbreak. And this number may increase, especially after the WHO announced the conclusion of an emergency meeting on the MERS outbreak to avoid traveling to Korea.

Not only has the MERS epidemic reduced the number of foreign tourists, it has also affected the consumption of Korean people. Since the first MERS patient was detected, people in this country have limited their travel to crowded places. In the first week of June, consumption at large stores decreased by 16.5% and at supermarkets decreased by 3.4% compared to the same period in 2014. Revenue at cinemas also decreased by 54.9% and at museums by 81.5%.

To counteract the negative effects on the tourism industry, the Korean government has decided to provide free insurance to all foreign tourists if they are infected with MERS while in Korea. In addition, Korea has also maintained a 24-hour hotline to provide information about MERS in English to anyone in need.

On the economic front, the Bank of Korea (BOK) decided to cut its interest rate to a record low of 1.5% on June 11. Finance Minister Choi Kyung Hwan also promised to provide 400 billion won, equivalent to 347 billion USD, for sectors affected by the MERS epidemic. In addition, the Deputy Prime Minister of Korea also said that he would consider other measures to restore the economy "after reviewing the situation at the end of June".

Chu Thanh– according to Le Monde June 17