Jeju Island Sees Sharp Rise in Small Business Closures
SEOUL, Jul. 25 (Korea Bizwire) – The number of small businesses shutting down on South Korea’s Jeju Island has increased significantly in recent years, according to local authorities. Data from the Jeju Credit Guarantee Foundation shows a steady uptick in business closures among its clients: 1,706 in 2023, 965 in 2022, 723 in 2021, and 618 [...]