MERS Outbreak Affects South Korean Economy



Economy Watch Reports:

South Korea is plagued with a rising death toll in its third week as the MERS virus spreads throughout the country. Analysts believe the outbreak will worsen the economy, as tourists stay away and locals remain at home. South Korea's economy underwent turmoil before the outbreak, due to low exports and consumption. The situation in South Korean is dire to the point where President Park Geun-hye canceled a trip to the United States to tackle the crisis. More deaths have been reported this week, bringing the official death toll to 10. Over 100 cases have been identified in South Korea, and the nation now has the second most MERS cases behind Saudi Arabia. MERS, otherwise known as Middle East Respiratory Syndrome, is a coronavirus virus that was first reported in humans in 2012, but most cases have been seen in Saudi Arabia. The virus comes from the same family as Severe Acute Respiratory Syndrome (SARS), but it is not as contagious. Symptoms associated with MERS include coughing and a fever. So far, the World Health Organization (WHO) has not called for a ban on travel or trade with South Korea, but Hong Kong cautioned against non-essential travel to the nation. Many travelers have already canceled trips to South Korea.