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S. Korea on alert as suspected case of swine flu confirmed
(Xinhua)
Updated: 2009-04-29 00:17

In addition, the government stepped up its procedures against the outbreak of swine flu by designating it as an infectious livestock disease, which would allow authorities to destroy and bury the sick animals and compensate farmers if the outbreak is spotted in the country.

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S. Korea on alert as suspected case of swine flu confirmed Swine Flu Outbreak

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The government began to conduct inspections of the belongings of tourists who have traveled to the US and Mexico, from Monday.

MARKET JITTERS

Concerns over swine flu influenza affected the economic sector as well, with both pork prices and sales falling and stock prices of related industries stirring.

The Ministry for Food, Agriculture, Forestry and Fisheries announced on Tuesday that the price for a 110-kg pig fell to 352, 000 won (US$260) on Monday, down 19,000 won (US$14) from last weekend.

S. Korea on alert as suspected case of swine flu confirmed
A thermal scanner shows the heat signature of passengers from an international flight arriving at Incheon airport, west of Seoul April 28, 2009. [Agencies]
Local retailers, such as E-mart, Homeplus, and Lotte Mart, also reported that pork sales on Monday showed a drop of 5.1 percent, 8. 0 percent, and 4.2 percent, respectively, from a week before.

In the Seoul bourse, poultry and fishery industry-related shares soared, while air carrier shares were dragged on reduced air travel demand.

Stock market winners also included pharmaceutical and biotech firms that manufacture drugs, vaccines and diagnostic tools.

Despite the current jitters, local experts said South Korea should stand still on the swine flu concerns as the nation is well- structured in the emergency preventive system, local media reported.

The stir in the Seoul bourse is also expected to calm down in a near future as it did in the past with the case of severe acute respiratory syndrome (SARS), local media said.

The Ministry of Knowledge Economy and the Korea International Trade Association predicted on Tuesday that tourism, livestock and exports will be affected by the outbreak of swine flu. Travel agencies reported cancellations of overseas trips, with trade likely to contract if the epidemic continues to spread, it said.

In response to the market unrest, the South Korean government set up a joint taskforce on Tuesday to closely monitor the latest developments in the spread of the swine flu and seek measures to prevent drastic drop of domestic consumption and business activity.