JUNE 22 (Reuters) — South Korean business leaders held an emergency meeting on Monday (June 22), to discuss ways to boost economy amid negative economic impact of the Middle East Respiratory Syndrome (MERS) outbreak.
“MERS has depressed domestic consumption, so we cannot help but worry about it,” Chairman and Chief Executive Officer (CEO) of Doosan Group, Park Yong-maan, said at the meeting.
“Now businessmen should work together to quell the worries over MERS as soon as possible. This is why the Korea Chamber of Commerce and Industry is announcing plans for economic revitailisation now and we are trying to put our plans into action,” Park added.
The outbreak has taken a toll on Asia’s fourth biggest economy, with tourists cancelling visits and consumers staying at home, and has dented the popularity of President Park Geun-hye, whose government was criticised for its initial response.
Moody’s Investors Service said on Thursday (June 18) it might deal a blow to South Korea’s economic recovery.
The finance minister has said it was considering a possible supplementary budget to bolster the economy.
South Korea’s health ministry reported two more deaths on Monday morning, bringing the number of fatalities to 27. The ministry also confirmed three new cases, taking the total to 172 in an outbreak that is the largest outside Saudi Arabia.
