13-10-16: Samsung recall take toll on South Korean economy

By Anya Palm

On Tuesday safety issues led one of South Korea´s biggest companies, Samsung, to recall their Galaxy S7 smartphone from the market.

Samsung had previously been forced to recall the Note7 handset, due to similar safety concerns, and the problems are now being felt at the South Korean economy itself, as the economy relies heavily on exports from Samsung.

According to data from the Ministry of Trade, Industry & Energy, exports of wireless communication devices dropped 27,9 percent in September, compared to the same period in 2015.