Seoul’s poor domestic demand won’t cure itself

Quick Summary:

While South Korea’s economy appears to sustain growth thanks to robust exports of a few big-ticket items, a slew of statistics released in recent weeks point to a deepening slump in domestic consumption.

Against this backdrop, policy authorities seem to lack both the will and the tools to change course.

Adding to the troubles facing consumption-oriented businesses, big eCommerce platform Interpark Commerce filed for a debt restructuring programme with the Seoul Bankruptcy Court last week, following in the footsteps of its two sister companies amid a liquidity crisis at the parent group.

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Article Details

Author / Journalist: YOO CHOON-SIK

Category: EconomyBusiness

Markets: MalaysiaSouth Korea

Topics: InflationImpact ExportGrowth /Business/Insight PolicyChallenges TrickleDownEffect InterestRates DomesticConsumption Commentary EconomicChallenges SouthKorea

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-21 @ 00:00:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 856 words

Reading Time: 5 minutes read

Sentences: 31 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22184053

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

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