A recently unveiled government stimulus package will not have an immediate effect on the Korean economy.
That's according to local analysts, who are saying that's one big reason why they've lowered their third quarter earnings outlooks for Korean companies.
The combined outlook for operating profits for the country's 177 listed firms fell by over five-percent in the past month, according to market researcher FnGuide on Sunday.
Analysts had slashed estimates for about two-thirds of the listed companies.
Hyundai Heavy Industries saw the biggest fall in its operating-profit outlook, by 53-percent.
The outlook for Korea's third-largest refiner S-Oil Corporation dropped by over twenty-seven percent.