“This time, I believe we’ve (the) vaccine today and the Philippines will be normal soon and market will recover. Which signifies the Korean tourists, the two million, they’ll be here. The two million figure refers to the average amount of Koreans who journey to the Philippines annually for leisure purposes prior to the pandemic struck, according to Lee. The nation’s white sand beaches and stunning sceneries generally attract themhe added. Given that, Lee also cited tourism as a crucial element in reviving the coronavirus-battered market. The Korean company leader noted how 30-40percent of nationals living in the nation returned home involving the COVID-19 pandemic. Vast majority of Korean retail companies such as restaurants too closed store, ” he added.

Firms left and have been made to scale down operations or shut their doors for good as they grapple with dampened consumer and business action on account of the worldwide health catastrophe.

However, Lee advises that the nation should now think of how to proceed forward.

The Philippines is one of the nations known for driving the Korean tide – otherwise called K-wave or even Hallyu – that is a worldwide phenomenon of immense popularity of K-pop and K-dramas.

This sooner gave Korean companies like supermarkets and restaurants from the country a large increase, which Lee said was great for Korean businessmen and Filipino customers equally.

The government is currently ramping up vaccinations particularly among health workers, senior citizens, and individuals who have comorbidities, and gearing up to inoculating economic frontliners in regions having higher COVID-19 transmission, all in an attempt to accelerate economic recovery.

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