3 out of 10 small and medium-sized export companies "Damaged by cancellation of contracts due to martial law"

According to a survey, 3 out of 10 small and medium-sized companies that export suffered damage due to the emergency martial law crisis.

The Korea Federation of Small and Medium Business conducted an emergency survey of 513 small and medium-sized export companies for four days from the 10th, and 26.3% of them were affected by uncertainties in the domestic political situation.

Among them, contract delays, reductions, and cancellations accounted for the most at 47.4%, followed by an increase in calls from overseas buyers at 23.7%, delays in orders or orders, decreases, cancellations at 23%, and problems caused by high exchange rates at 22.2%.

Although there is no damage yet, 63.5% of small and medium-sized export companies said there is a possibility of damage in the future.

Half of the exporters, 49.3%, forecast a duration of domestic economic uncertainty to be within six months, with 32.2% lasting for one to two years, 8.2% lasting more than two years and 7.4% lasting until this year.