Chairman Park Yong-man: "Transition to Everyday Social Distancing... Domestic Demand Will Support and Improve Economic Sentiment"

"Economic Uncertainty a Major Variable... Needs to Be Resolved Quickly"

Park Yong-man, Chairman of the Korea Chamber of Commerce and Industry, holds an emergency press conference on COVID-19 at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, on the 9th. At this event, Chairman Park said, "Please proactively expand the supplementary budget for COVID-19." Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Dongwoo Lee] Park Yong-man, Chairman of the Korea Chamber of Commerce and Industry, said on the 6th regarding the COVID-19 situation, "As we transition to social distancing in daily life, domestic demand will support the economy, and the economic sentiment will improve."

On the morning of the first day of the daily quarantine, Park met with reporters at the Korea Chamber of Commerce and Industry and said, "I believe the government support measures related to COVID-19 have been sufficiently provided and are being implemented without bottlenecks," adding, "According to a survey by the Chamber, small business owners have reported significant improvements."

However, Park explained, "It is difficult for companies because it is unclear how and when countries will lift lockdowns, and recovery is not yet within sight, so there are many variables."

He continued, "With the recent passage of the supplementary budget, we have overcome a major hurdle, and in these uncertain times, we need to quickly resolve this from both economic and social perspectives," and assessed, "If the National Assembly stimulates domestic demand and opens up services through legal amendments, the economic uplift effect will be significant."

Additionally, Park explained that he recently gave a lecture during a video conference of the Order of Malta to about 50 opinion leaders from the U.S., Europe, and other regions, answering questions about Korea's COVID-19 quarantine measures. He said, "I received many questions about COVID-19 testing, especially Korea's drive-through process, and provided explanations about it."

Park also emphasized the thorough habituation of social distancing in daily life, stating, "If borders open at some point and the habit of social distancing is not maintained, there is concern about rapid transmission in a second wave."

On the same day, the Korea Chamber of Commerce and Industry reopened its press room after 42 days of closure and presented reporters with quarantine supplies such as masks and hand sanitizers. Park left a message saying, "Your return to your posts marks the beginning of the world returning to its place."

This content was produced with the assistance of AI translation services.