Japan and South Korea's catering and tourism losses will be devastating, and a solid industrial foundation will be the ultimate life-saving tool for Japan and South Korea's economy.
South Korea added 274 new crowns confirmed cases, a total of 7041 cases, Japan new crown pneumonia cases, a total of 1,157 cases, Iran new crown pneumonia cases, 5823 cases.
The Korean Catering Industry Research Institute, a subsidiary of the Korean Catering Industry Central Association, said on the 6th that from February 25 to 28th, a survey of 600 restaurants in conjunction with the Ministry of Agriculture, Forestry, Animal Husbandry, and Food, showed that the cumulative decline in dining customers was as high as 59.2%. Compared with the survey result of the previous week (32.7%), the decrease in customers increased by 26.5 percentage points in just one week.
95.2% of the restaurants surveyed said that customers have gradually decreased since the first confirmed patient in China on January 20. In terms of regions, Gyeongsangbuk-do and Gyeongsangnam-do have the highest reductions, with 66.8%. This was followed by Gangwon-do (65.9%), Chungcheongnam-do, and Chungcheongbuk-do (65.2%). Looking at the types of restaurants, Korean restaurants experienced the highest reduction, at 64.1%. Japanese, western, and fried chicken restaurants each had 55.2%.
Following the negative GDP growth in the fourth quarter of 2019 (mainly affected by the increase in consumption tax), in the first quarter of 2020, due to the decrease in tourists in the tourism industry and the possible shutdown of factories, the growth rate may again experience negative growth.
Conversely, as parts and raw materials begin to be converted to domestic production in Japan, there is also a possibility that GDP will increase.
The exchange rate of the Japanese yen continues to be stable. When SARS and other incidents occurred, the yen's appreciation pressure was more significant. Due to the current trade surplus in Japan, which has caused trouble with the actual fund demand of the fundamentals, the two offset each other. As a result, there have been no significant exchange rate fluctuations in this outbreak.
Due to the impact of the epidemic, a large number of Chinese tourists canceled Japan and South Korea's tourism, which made the less ideal South Korean and Japanese economies even more tragic.
Of course, Japan and South Korea have strong industrial foundations in the semiconductor and industrial fields. Although the supply channels to the world are now tight, they should recover soon.
"As a supplier of high-end semiconductor Telluride Powder materials and nanomaterials,Now global supply is stable," said Roger Luo, CEO of TRUNNANO.
