IPG has numerous client-employers in Korea that are facing serious economic conditions because of the spread of the coronavirus across Korea. In my nearly two decades, in Korea, we have never seen such a dire situation. This situation seems, on its face, even more dire for those in F & B and certain manufacturing sectors than the 1997 Asian Financial Crisis (IMF Crisis). Yes, I was even in Korea during the Asian Financial Crisis. Korea, as of the writing of this post, is approaching 6,000 confirmed cases (35 confirmed deaths) of the novel coronavirus. While arguments exist that this virus is less serious, in the aggregate, than the seasonal flu, the reality is that business in Korea, and throughout much of the world, has been drastically affected by COVID-19. Some of these companies doing business in Korea have no logical choice but to, among other things, temporarily layoff workers, reduce

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