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S. Korea to utilize teleconferences to keep up exports amid coronavirus spread

According to Yonhap News,
SEOUL, March 5 (Yonhap) -- South Korea said Thursday it will help more exporters utilize teleconferences as a rising number of countries imposed restrictions on South Koreans' entry amid the new coronavirus spread here.

In line with the efforts, the country will increase the number of teleconference booths available at the Korea Trade-Investment Promotion Agency (KOTRA) offices to 60 from the current five, according to the Ministry of Trade, Industry and Energy.

The move came as a total of 95 countries and territories were imposing entry restrictions or stricter quarantine procedures on people from South Korea over coronavirus concerns as of Wednesday.

The number of patients infected with the virus here reached 5,766 as of Thursday morning.

South Korea said exporters arranging meetings with overseas partners through KOTRA will receive other necessary support including interpretation.

KOTRA also plans to utilize its overseas offices to help South Korean exporters manage their overseas businesses, marketing and other administrative affairs amid the entry restrictions.

South Korea's exports, meanwhile, rebounded 4.5 percent in February, snapping their 14-month losing streak aided by the improving chip sector and extended working days. The country, however, believes the COVID-19 epidemic has emerged as yet another uncertainty for local exporters.

Annual exports fell 10.3 percent in 2019, hit by a slump in the global chip market, coupled with the lengthy trade feud between the United States and China.

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Source: Yonhap News (Mar. 6 , 2020)

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