Most domestic South Korean businesses are concerned about the Kim Jong Eun system, according to a new survey by the Korea Chamber of Commerce and Industry.
The ‘Kim Jong Eun Succession to Power and Economic Impact’ survey of 300 enterprises, including 100 engaged in economic projects involving North Korea, revealed that fully 96.2% of respondents are ‘uncertain or apprehensive’ about the Kim Jong Eun system.
27.9% of those surveyed said the harm to the domestic economy of a destabilizing North Korean regime could be ‘considerable’, while another 51.9% said it could be ‘moderate’.
Businesses in petrochemicals (36.4%), automobiles (34.2%), machinery and metals (27.8%) and foods (26.8%) were the most likely to anticipate ‘considerable’ harm to the economy. Respondents said that harm was most likely in terms of financial market confusion (50.6%), shrinking demand due to uncertainty (26.5%) and shrinking export demand (18.0%).
“Unlike the temporary shocks of the past caused by provocations, this time it is about the North Korean system’s existence and the shortness of the successor’s preparation time, so the duration of the risk will be long and its effect very large,” the KCCI commented, adding, “It would be best if enterprises keep a close eye on events and develop plans to counter the uncertainty.”
