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South Korea is one of the highly developed economies in Asia-Pacific. Major industries that contributes as the backbone of the economy include automotive, electronics and electrical, chemical, travel and tourism, and others. South Korea is also one of the leading producers of steel, cadmium, and zinc across the globe. Moreover, the country homes several automobile giants that have marked their brands across the globe. Some of the well-known South Korea-based brands of the automobile industry include Kia Motors, Hyundai Motors, and others. Additionally, the country is one of the leading countries in shipbuilding. Five out of the top ten enterprises (including the top four) are South Korean companies, with Hyundai Heavy Industries Co., Ltd. owning the largest shipyard globally.
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Orion Market Research Impact of COVID-19 on the South Korean Economy Size, Segmentation, Share, Forecast, Analysis, Industry Report Request a Free Sample of Impact of COVID-19 on the South Korean Economy: https://www.omrglobal.com/request-sample/impact-of-covid-19-on-south-korean-economy Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +1 646-755-7667, +91 780-304-0404
South Korea is one of the highly developed economies in Asia-Pacific. Major industries that contributes as the backbone of the economy include automotive, electronics and electrical, chemical, travel and tourism, and others. South Korea is also one of the leading producers of steel, cadmium, and zinc across the globe. Moreover, the country homes several automobile giants that have marked their brands across the globe. Some of the well-known South Korea-based brands of the automobile industry include Kia Motors, Hyundai Motors, and others. Additionally, the country is one of the leading countries in shipbuilding. Five out of the top ten enterprises (including the top four) are South Korean companies, with Hyundai Heavy Industries Co., Ltd. owning the largest shipyard globally. Request a Free Sample of Impact of COVID-19 on the South Korean Economy: https://www.omrglobal.com/request-sample/impact-of-covid-19-on-south-korean-economy South Korea is one of the highly developed economies in Asia-Pacific. Major industries that contributes as the backbone of the economy include automotive, electronics and electrical, chemical, travel and tourism, and others. South Korea is also one of the leading producers of steel, cadmium, and zinc across the globe. Moreover, the country homes several automobile giants that have marked their brands across the globe. Some of the well-known South Korea-based brands of the automobile industry include Kia Motors, Hyundai Motors, and others. Additionally, the country is one of the leading countries in shipbuilding. Five out of the top ten enterprises (including the top four) are South Korean companies, with Hyundai Heavy Industries Co., Ltd. owning the largest shipyard globally. A full Report of Impact of COVID-19 on the South Korean Economy is Available Market: https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-south-korean-economy The report analyzes the impact of COVID-19 on the South Korean economy and major verticals across the country. Verticals such as automobile, retail, electronics and electrical, travel and tourism, and other have been analyzed in the report. South Korea homes some of the consumer electronics giants such as Samsung Electronics and LG Electronics that cater to wide range of customers across the globe. Outbreak of COVID-19 has disrupted the operation and supply chain of these companies. For instance, Samsung closed its assembly line at its smartphone factories in the Gumi industrial complex in the east of South Korea. LG Innotek has suspended operation at its Gumi site in March 2020. However, the suspension of the production was only for a definite period of time. South Korea is also seen as an attractive destination by majority of the population across the globe. However, the spread of coronavirus is expected to decline the number of foreign tourists to country by nearly 2.0 million in the first quarter of 2020. This would account for loss of around $2.3 billion to travel and tourism industry of the economy.
Key companies operating in the South Korea whose business operations are significantly affected due to COVID-19 include Samsung Electronics, Kia Motors, Hyundai Motors, LG Electronics, Hyundai Heavy Industries, LG Chem, and others. Amid the recent COVID-19 pandemic crisis, companies have been forced to shut down their production unit and halt their production for a definite period of time. For instance, in February 2020, Hyundai Motor’s Ulsan plant put a break on its production after its one of the employees tested positive for coronavirus. The Ulsan plant of the company is responsible for manufacturing the GV80, Palisade, Santa Fe and Tucson. Moreover, the plant has an annual production capacity of around 1.4 million vehicles, accounting for around 30% of the overall Hyundai’s global production. For More Customized Data, Request for Report Customization@ https://www.omrglobal.com/report-customization/impact-of-covid-19-on-south-korean- economy About Orion Market Research Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. Media Contact: Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +1 646-755-7667, +91 780-304-0404
