As the economic growth of India, Brazil and the EU is projected to be slower than expected in the latter part of this year, Korean exporters in these markets need to prepare for the risk of delayed payment, according to the state-run Korea Trade Insurance Corp., known as K-sure.
The outlook for growth in these three markets was made based on a survey of officials from 14 overseas branches of K-sure on risk of nonpayment in the nation’s key export markets. The main business of K-sure is to guarantee payment for exports of both large and small corporations.
According to the survey, economic growth of India and Brazil continued to fall for the first two quarters of this year, affected by falling consumer spending and investment.
Elsewhere, Russian economic growth continued to fall for five consecutive quarters up to the first quarter of this year.
