South Korean retailers' business sentiment worsened for three straight quarters.

According to the Korea Chamber of Commerce and Industry on Sunday, the nation's retail business survey index for the first quarter came to 92, down four points from the previous quarter.

The index, which stood at 98 in the second quarter of last year, continued to slip since and hit the lowest since the third quarter of 2017, when it marked 91.

In particular, the index for convenience stores plunged by 17 points on-quarter to 71, due to the increased burden brought on by the minimum wage hikes.

A reading lower than 100 indicates that the surveyed companies expect conditions to worsen in the quarter.