World Economy

Economy in Depression

Economy in DepressionEconomy in Depression

More than 90% of South Koreans believe the country’s economy has entered a state of depression, a survey showed Sunday, with many expecting current conditions to persist down the road, Yonhap reported. In a nationwide survey of 800 people over the age of 19, 93.9% of the respondents said the local economy is faced with depression, according to the Federation of Korean Industries (FKI). The poll was carried out by Research & Research. Of those who said the economy is in a state of depression, nearly half expressed fears that the slump may be for the long term, with 48.4% saying they expect recovery to begin sometime after 2017, the survey showed.