It started with a simple cough. Now South Korea is battling the worst case of Middle East Respiratory Syndrome outbreak outside of Saudi Arabia, where the virus first came to light.

The country has reported that the MERS virus has claimed its seventh victim while eight more people contracted the virus, bringing the number of confirmed cases to 95. There are also more than 2,800 people in quarantine and 2,000 schools remain closed.

Most of those afflicted with the virus are older people, with the exception of a 16-year-old male patient. Those who have succumbed to the disease were diagnosed with pre-existing conditions, but that information is a cold comfort to people who are grappling with fear over the still relatively unknown virus.

However, health officials have reported that the rate of infection appears to be slowing down, prompting the Korean government to issue an assurance that the virus' spread will be stopped within the week.

According to Acting Prime Minister Choi Kyung Hwan, Koreans are worrying not only about the virus but also its negative impact on the economy.

"The government has decided to begin an aggressive response system with the resolve to end the MERS situation within the week," the prime minister stated.

South Korea's concerns about its economy are valid as countries around the region have started issuing travel advisories. 

Hong Kong has already issued a red alert on travel to South Korea, the second-highest warning the country issues to its citizens. In response to this, Cathay Pacific has waived its rebooking and re-routing fees for those traveling from Hong Kong to South Korea. Indonesia has also warned its citizens about traveling to the country and Japan has stepped up its monitoring of passengers from the Korean peninsula.

The MERS outbreak has also caused more than 25,000 tourists to cancel their trips to South Korea.

Government officials have already advised citizens to brace for the possible negative effects this will have on the economy but urged South Koreans not to overreact.