The business sentiment index (BSI) stood at 54 in March, down 9 points from the previous month, according to the Bank of Korea (BOK).
After peaking at 76 in December last year, the index slipped to 75 in January and 65 in February respectively. It was the lowest since February 2009.
The sharp fall was attributed to the COVID-19 outbreak across the world that disrupted global supply chains.
The BSI among manufacturers dived 9 points over the month to 56 in March, the lowest since March 2009.
The sentiment for non-manufacturers plunged 11 points to 53 this month, marking the lowest since data began to be compiled in 2003.
The index for the wholesale and retail industry nosedived 14 points in the month as people refrained from outside activities, such as shopping and travel, on the fear of infection.
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