Economic impact of coronavirus on South Korea
Speaker: Jiwon Lim, Monetary Policy Board Member, Bank of Korea
South Korea experienced one of the first outbreaks of Covid-19 outside China. Compared with Europe and the US, the country was able to contain the virus and slow its spread. However, despite this relative success, Asia’s fourth largest economy faces long-term economic challenges, with unemployment at its highest level in a decade and shrinking exports. Jiwon Lim, monetary policy board member at the Bank of Korea, discusses the pandemic’s impact on South Korea’s economy and financial markets.