Firms negative on economy

Korea Employers Federation revealed in its survey that about half of 418 domestic companies paint a bleaker picture for this year’s economic conditions than when they drew up the 2008 management plan later last year, mainly due to economically negative factors such as rising raw materials and oil prices and worries on world economic recession. 29.6 per cent of companies surveyed say they plan to scale down this year’s employment while only 16.7 per cent will expand the plan. Meanwhile 52.6 per cent consider pump-priming measures to be necessary for reviving the economy.