Market Research Report
Retail Savings and Investments in South Korea - Coronavirus (COVID-19) Sector Impact
|Published by||GlobalData||Product code||950846|
|Published||Content info||19 Pages
Delivery time: 1-2 business days
|Retail Savings and Investments in South Korea - Coronavirus (COVID-19) Sector Impact|
|Published: July 10, 2020||Content info: 19 Pages||
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with most countries across the world registering dramatic declines in economic activity for the year to date. Many economists and institutions have cut their forecasts as a number of countries have officially slipped into recession. South Korea entered a technical recession in Q2, with the Bank of Korea expecting GDP to contract by more than 2% compared to three month earlier.
The country has been able to control the COVID-19 pandemic comparatively well thanks to robust government measures. As of July 10 there were 13,338 confirmed cases, with the majority of individuals having already recovered. A gradual recovery in the economy will revive the retail savings and investments market going forward.
This report focuses on the impact of the Coronavirus outbreak on the South Korean economy and the country's retail savings and investment market. It also highlights the measures adopted by the government to combat COVID-19. Based on our proprietary datasets, the snap shot contrasts GlobalData's pre-COVID-19 forecasts and revised forecasts of total retail bond, deposits, equities and mutual funds holdings in terms of value and growth rates. It also analyses the effects on HNW wealth, examining the importance of different industries as a contributor to HNW wealth.