(MENAFN) Primarily on the back of global economic plunge and escalating geopolitical risks, assurance amongst South Korean businesses over economic conditions degraded to the lowest in nearly 7 years in March.
According to the Bank of Korea's latest data, the sliding trend came amid rising doubts facing the nation's economy such as the global economic slowdown, especially in emerging economies, and the resulting export plummet.
Additionally, confidence in conducting business was also affected by increasing geopolitical risks on the Koran peninsula after the Democratic People's Republic of Korea (DPRK)'s recent rocket launch and nuclear test.
Exports, which represent almost half of the country's economy, reported the largest monthly decrease in over six years, not to mention February figures are projected to have logged a double-digit deterioration.
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