Gov't sets up taskforce to monitor impact of swine flu on trade

SEOUL, April 28 (Yonhap) -- The government set up a joint taskforce on Tuesday to
carefully monitor and limit the fallout of the swine flu epidemic on South
Korea's trade.
The team, made up of officials from the Ministry of Knowledge Economy, state-run
Korea Trade-Investment Promotion Agency (KOTRA) and the Korea International Trade
Association, will keep tabs on the latest developments in the spread of the
contagious disease that could hurt domestic consumption and business activity.
"The swine flu scare has effectively paralyzed Mexico and if this spreads across
borders, it could seriously undermine economies that have already been hard hit
by the global slump," a ministry official said.
He added that concerns about infections could undermine trade fairs, exhibitions
and export talks, while possible international travel restrictions could hurt
business activities.
At present, the ministry in charge of the country's industrial policies and trade
promotion forecast that exports to Mexico will be hit hard, while those to
neighboring countries could be hurt if the flu crosses borders and leads to more
deaths.
Last year, South Korea exported US$9.09 billion worth of goods to Mexico, while
importing $1.05 billion.
The North American country has reported at least 150 deaths related to the
disease after the first case was reported on April 13. Schools have been closed
and commercial operations limited.
The taskforce, meanwhile, said it will check all developments and try to
implement measures to help local companies cope with the epidemic.
The swine flu outbreak comes at a bad time for South Korea, which is making a
determined effort to fuel exports that are vital for economic growth.
yonngong@yna.co.kr
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