Pohang businesses expect stable financial conditions for H2

A survey conducted by the Pohang Chamber of Commerce and Industry among 89 local companies indicates that 61.8% of businesses expect their financial conditions in the second half of the year to remain similar to the first half.

Key challenges cited by businesses include high interest rates, which was the primary difficulty for 47.1% of respondents when using financial institutions, followed by strict screening processes and complex procedures. The primary factors impacting cash flow were rising costs for raw materials, labor, and energy, affecting 41.4% of companies, as well as decreased sales and delayed fund collection.

Looking ahead six months, 65.1% of surveyed companies anticipate their financial situation will remain unchanged, while 23.6% expect it to worsen slightly and 3.4% expect a significant deterioration.