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Korean media: the epidemic hits the tourism industry, causing losses of up to 14 trillion won

Date: 2021-01-10

After the outbreak of the epidemic, not only did they fall into unemployment, but most people had difficulty obtaining government assistance because they had not signed a labor contract with the company.

According to the Korean media "Jingxiang Shimbun", due to the impact of the new crown pneumonia epidemic in 2020, a South Korean travel agency's revenue fell 97% year-on-year, and its debt was more than 1 billion won (about 5.94 million yuan). At the end of last year, the third pandemic occurred in South Korea. The travel agency was overwhelmed and was forced to fire more than 20 employees. The person in charge of the travel agency said that since South Korea issued anti-epidemic measures that banned gatherings of five or more people, small travel agencies in some places have struggled. "I have been in the tourism industry for 20 years, but this is the first time I have encountered such a harsh business environment." He said.

According to a data from the Ministry of Culture, Sports and Tourism of South Korea, affected by the epidemic, the overall revenue loss of South Korea's tourism industry in 2020 is expected to reach 14.1 trillion won (about 83.5 billion yuan). Among the practitioners, the tour guides responsible for receiving foreign tourists and translating bear the brunt. After the outbreak of the epidemic, not only did they fall into unemployment, but most people had difficulty obtaining government assistance because they had not signed a labor contract with the company.

In addition, various industries in South Korea’s cultural and art fields have suffered serious losses. The income from museums and art galleries has decreased by 110.3 billion won; the income of art performances and art exhibitions has decreased by 449.2 billion won; the cancellation of 570 popular music performances has resulted in a loss of 66.6 billion won; Cinema revenue fell nearly 80% year-on-year. It is worth noting that the sports industry has suffered more losses than the tourism industry. Last year, its revenue dropped by 29 trillion won. (*Article source: People's Daily Online)