Nearly six out of 10 Korean companies are worried about this year's general and presidential elections.
A nationwide survey carried out on 300 companies by the Korea Chamber of Commerce and Industry showed that almost 60 percent of respondents expect this year's elections to have a more adverse impact on the economy than in the past. Around 30 percent, however, believe the political events will help the economy, and 12 percent said the effects will be roughly the same as before.
The private business organization said that many companies are concerned about the large number of campaign promises being made to win votes.
Koreans will head to the polls on Wednesday to pick lawmakers, while the presidential election is slated for Dec. 19.
The survey found that around 40 percent of the companies feared the elections will fuel inflationary pressure, with almost 20 percent worried about a possible drop in investment. Nevertheless, some 96 percent said they have not been affected by this year's elections.
For sustainable economic growth, almost six out of 10 businesses said that more emphasis should be given to problems like inflation, household debt and other challenges facing the domestic economy.