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Most S. Korean firms not to be affected by European travel crisis: poll

All Headlines 12:02 April 22, 2010

By Nam Kwang-sik

SEOUL, April 22 (Yonhap) -- Most South Korean firms that do business in Europe will not be impacted by the air travel crisis caused by a volcanic eruption in Iceland if flights normalize soon, a poll said Thursday.

In the survey of 263 companies conducted by the Korea Chamber of Commerce and Industry, about 83 percent of companies said the travel crisis will have little impact on their business if the disruption is not prolonged.

The glacial volcano has been belching a cloud of smoke and ash that has stretched across the European continent since its eruption last week, grounding flights and stranding thousands of passengers.

Only 18 percent of South Korean companies surveyed said that their exports to Europe are expected to be affected by the crisis. But 56 percent of respondents said their business will be hurt if the paralysis continues for over a month

More than 20 percent of companies polled said they are already feeling the pinch of the crisis.

About 47 percent of companies who said that they have been damaged by the crisis included mobile phone and chip exporters, while 36.1 percent were travel agencies, the chamber said.

ksnam@yna.co.kr
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