Most Businesses Fear Japanese Export Curbs Will Last

  • By Lee Sung-hoon, Shin Eun-jin

    July 12, 2019 11:33

    Most of Korea's 20 top conglomerates believe the business environment has gotten worse, only three said it is the same as six months ago, and none think it has improved since.

    In a Chosun Ilbo poll, four of the conglomerates also admitted that they did not execute their investment plans for the first half of this year.

    Sung Tae-yoon at Yonsei University said, "Businesses feel that the government has been slow in easing red tape for new investments and labor relations, and regulation has only gotten worse."

    A majority also believe that Japan's restrictions on exports to Korea will last at least six months. Six said they could last as long as three years. Eighteen feel a diplomatic solution is needed, and none of the 20 recommend retaliatory steps such as filing a complaint at the World Trade Organization or imposing restrictions on Korean exports to Japan.

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