Recent financial turmoil hit 61 pct of S. Korean firms: poll

SEOUL, Sept. 1 (Yonhap) -- Roughly six out of 10 South Korean companies suffered direct and indirect damage from the recent financial crisis stemming from the U.S. credit downgrade and eurozone debt fears, a poll showed Thursday.
According to the survey of 300 companies by the Korean Chamber of Commerce and Industry (KCCI), 61.3 percent of respondents said that they have had trouble running their businesses amid worsening financial uncertainty sparked by the fiscal problems in the world's biggest economic blocs.
In contrast, 38.7 percent answered that the financial crisis has not affected them.
Among those who said they have been experiencing hard times, 45.7 percent replied that they experienced a fall in sales due to the turmoil, while 36.4 percent said it hurt corporate profitability, according to the findings.
Some 16 percent said the financial crisis forced them to reduce investments or change their business plans.
About 60 percent of the surveyed companies expected that the U.S. and Europe-led financial turmoil will not escalate into a global economic crisis, while 30 percent said the world economy will be swept by the debt crisis.
The survey also showed that nearly 70 percent of the companies expect the impact of the financial turmoil to last until next year, and 25 percent estimated that it will continue till 2013.
brk@yna.co.kr