Jeju, the Hardest Hit by COVID-19 in Q2 This Year... Service Industry Production and Retail Sales Plummet

[Sejong=Asia Economy Reporter Joo Sang-don] In the second quarter of this year, Jeju Island experienced the most severe contraction in service industry production and retail sales due to the novel coronavirus disease (COVID-19).

On the 6th, Statistics Korea announced the '2020 Second Quarter Regional Service Industry Production and Retail Sales Trends' report containing these details.

According to the report, service industry production decreased in all 16 metropolitan cities and provinces compared to the same quarter last year.

In particular, Jeju declined by 12.9%. Specifically, decreases were seen in accommodation and food services (-31.1%), wholesale and retail trade (-15.2%), arts, sports, and leisure (-47.6%), transportation and warehousing (-25.1%), and business facility management, business support, and rental services (-24.4%).

Additionally, Incheon (-11.6%) and Busan (-5.6%) showed high rates of decline due to sluggishness in accommodation and food services, transportation and warehousing, and wholesale and retail trade. The rate of decline also expanded compared to the previous quarter.

Retail sales in the second quarter decreased in four metropolitan cities and provinces compared to the same quarter last year: Jeju (-28.1%), Seoul (-8.3%), Incheon (-5.2%), and Busan (-1.5%). Meanwhile, 12 regions including Jeonnam (10.2%), Chungnam (8.7%), Gwangju (8.0%), Jeonbuk (7.7%), and Chungbuk (7.3%) experienced increases.

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