In fact, South Korea is now being heralded for its response to the COvid-19 threat which had seen it with one of the largest initial outbreaks outside of China, but which was contained quickly due its efficient healthcare system that can serve as a template for developing countries to follow.
Lee Jong-Wha, a professor of economics at Korea University says it is “now painfully clear that countries cannot pursue economic development, and assume that the health system will develop in tandem”. Instead, he says they must do what South Korea did and “devise targeted strategies for effective health-care delivery that go hand in hand with broader social- and economic-development efforts”.
The Organization for Economic Cooperation and Development (OECD) has now raised its growth outlook for the South Korean economy this year due to its prompt response to the outbreak. This is forecast to fall just 0.8% in 2020 under a scenario of no more COVID-19 outbreaks in the country, projects the organisation said in its OECD Economic Surveys: South Korea 2020 report.
It is higher than the previous forecast of -1.2% contraction announced two months earlier and is the highest estimate among 37 OECD member countries where the average growth forecast is estimated at a -7.5% contraction this year. However, a warning remains that the South Korean economy could contract by as much as -2.0% this year under a scenario that a second wave of infections hits the country later this year.
AIRPORTS IN THE COUNTRY
ANNUAL VISITOR ARRIVALS (2010 – 2020YTD)
VISITOR ARRIVALS BY MARKET (2019)
MONTHLY VISITOR ARRIVALS AND SEASONALITY IN DEMAND (2015 – 2020)
SCHEDULE MOVEMENT SUMMARY (w/c 10-Aug-2020)
ANNUAL CAPACITY (2012 – 2021*)NOTE:*the values for this year are at least partly predictive up to six months and may be subject to change.
WEEKLY DOMESTIC CAPACITY (2017 - 2020*)NOTE:*the values for this year are at least partly predictive up to six months and may be subject to change.
WEEKLY INTERNATIONAL CAPACITY (2017-2020*)NOTE:*the values for this year are at least partly predictive up to six months and may be subject to change.
CAPACITY SPLIT BETWEEN DOMESTIC AND INTERNATIONAL OPERATIONS (w/c 10-Aug-2020)
LARGEST AIRLINES BY CAPACITY (w/c 10-Aug-2020)
CAPACITY SPLIT BETWEEN LOCAL AND FOREIGN OPERATORS (w/c 10-Aug-2020)
AIRLINE BUSINESS MODEL CAPACITY SPLIT (w/c 10-Aug-2020)
DEVELOPMENT OF LCC ACTIVITY IN COUNTRY (2009 - 2019)
ALLIANCE CAPACITY SPLIT (w/c 10-Aug-2020)
INTERNATIONAL CAPACITY BREAKDOWN BY COUNTRY (w/c 10-Aug-2020)
DEPARTING SYSTEM SEATS BY CLASS (w/c 10-Aug-2020)
BUSIEST DOMESTIC MARKETS BY CAPACITY (w/c 10-Aug-2020)
BUSIEST INTERNATIONAL MARKETS BY CAPACITY (w/c 10-Aug-2020)
LOCAL AIRLINES’ AIRCRAFT FLEET (as at 10-Aug-2020)