- July 7, 2021
- Posted by: Stratford Team
- Category: Economy
The South Korean economy is on a modest recovery track, but its upward momentum may lose steam due to a resurgence in COVID-19 cases, a state-run think tank said Wednesday.
Asia’s fourth-largest economy is on a recovery track amid solid exports, but it also faces high economic uncertainty from the fast spread of the more contagious delta COVID-19 variant and spiking virus cases, according to a monthly economic assessment report by the Korea Development Institute (KDI).
“Due to the surge in infection cases since late June, the economic recovery may be delayed,” the English-language report showed.
South Korea’s daily new virus cases jumped by the most in about six months Wednesday, fanning fears of a fourth wave of infections over the summer.
The country reported 1,212 more COVID-19 cases, including 1,168 local infections, raising the total to 162,753, according to health authorities.
The nation has reported a total of 2,817 cases of four major contagious…
