hankyoreh

Global credit-rating agency Standard & Poor’s (S&P) has forecasted negative growth for the South Korean economy in 2020. The prediction is based on economic factors resulting from the novel coronavirus pandemic. In its report for the Asia-Pacific region, S&P forecasted South Korea’s 2020 GDP growth rate at -0.6%, compared to 2.1% of late 2019. S&P had predicted growth of 1.6% as recently as Mar. 5, demonstrating the swift global impact of the coronavirus outbreak.