Seoul, Dec 24
South Korea's consumer sentiment fell by the largest margin since the Covid-19 pandemic in December as political turmoil sparked by President Yoon Suk Yeol's shocking martial law declaration added another layer of uncertainty to the economy, a central bank poll showed on Tuesday.
The composite consumer sentiment index stood at 88.4 this month, down 12.3 points from the previous month's 100.7, according to the survey conducted by the Bank of Korea (BOK).
December's figure is the lowest level since November 2022 when the index came to 86.6. It also logged the sharpest decline since March 2020, when the index fell by 18.3 points. A reading above 100 means optimists outnumber pessimists, reports news agency.
"It was the third consecutive monthly fall. The martial law incident appeared to have affected the sentiment, which had already worsened after the U.S. presidential election and growth concerns," a BOK official said.
Political chaos has dented the economy and the market following Yoon's imposition of martial law on Dec. 3 and the subsequent vote by the National Assembly to impeach him.