STORES | Staff Reporter, Korea

South Korean restaurants' business sentiment hits all-time low in Q4 2020

The index was lower than the figures from the first wave of the pandemic.

South Korean restaurants' business sentiment sank to an all-time low in Q4 2020 amidst a surge in COVID-19 infections in the country, Yonhap reported based on data from the Korea Agro-Fisheries & Food Trade Corp.

The business survey index for the country's restaurant industry came to 59.33 for the October-December period, the lowest quarterly tally since the state-run company began compiling the index in 2011.

The corporation said the local restaurant industry has been in a long slump due to the coronavirus outbreak as tougher social distancing measures force people to avoid dining out.

The Q4 number was lower than the 57.96 for the Q1 of last year when the country was hit by the first wave of the coronavirus outbreak. It also was below the 61.19 posted in the Q2 2015 amidst the Middle East Respiratory Syndrome outbreak.

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