South Korea’s major companies are disappointed by the long-deferred economic recovery stemming from unfavorable exchange rates and sluggish consumer demand due to the ferry disaster, a poll showed Tuesday.

The Business Survey Index came to a six-month low of 91.6 for August, down from 94 for the previous month, according to the poll of the country’s 600 largest companies by sales, conducted by the Federation of Korean Industries.

A BSI reading below the benchmark 100 means pessimists outnumber optimists.

The FKI said the figure is affected by slowed economic growth, lackluster domestic demand and poor corporate earnings.

The country’s gross domestic product edged up 0.6 percent in the second quarter from three months earlier, marking the lowest growth in the previous seven quarters.

Consumer sentiment has been on a steady decline since the April 16 sinking of the ferry Sewol that left more than 300 people dead.

The deadly disaster sapped domestic consumption as the nation went into mourning.

The two largest conglomerates ― Samsung Electronics and Hyundai Motor ― saw their operating profits tumble in the April-June period on the strong local currency and weak demand.

“A protracted slump in domestic demand and consumption dragged down the business sentiment,” the FKI said. “Drastic regulatory reform and expansionary macroeconomic policies are needed to boost the economy.” (Yonhap)