About 90 pct of firms undecided on 2022 investment plans amid pandemic-caused uncertainty: poll

SEOUL– About 90 percent of firms in South Korea are undecided on their investment plans for next year amid lingering uncertainty despite the country’s move back to normalcy under the “living with COVID-19” scheme, a poll showed Sunday.

According to the poll conducted on 316 firms by the Korea Chamber of Commerce and Industry (KCCI), 56.2 percent said they have not drawn up investment plans for next year.

Of those surveyed, 32.1 percent said they are currently reviewing such plans. Only 11.7 percent said they either have completed or been drawing up investment plans.

The high ratio of firms undecided on investment plans is attributed to still high economic uncertainty despite the nationwide efforts to move back to normalcy from the coronavirus pandemic-caused disruptions.

Last Monday, the government introduced the “living with COVID-19” scheme under which it eased social distancing rules aimed at returning to normal life in phases after the country achieved its initial target of fully vaccinating 70 percent of the population.

Amid recently expanded outdoor activities and eased virus curbs, the country reported 2,224 new COVID-19 cases Sunday, the fifth straight day the tally has stayed over 2,000.

Of those polled, 68 percent voiced concerns about uncertainty over market conditions even under the eased virus regulations.

In particular, 37.7 percent cited global supply chain disruptions and difficulty in securing necessary raw materials as the major risk factor and 20.6 percent chose labor shortages, the poll showed.

Source: Yonhap News Agency

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