SEOUL, Jan. 6 (Korea Bizwire) — The self-employed who shut down operations due to the government’s coronavirus pandemic-related restrictions will be allowed to terminate their commercial lease contracts earlier than the end date. The Ministry of Land, Infrastructure and Transport announced that the revision of the Commercial Building Lease Protection Act took immediate effect after [...]
SEOUL, Oct. 14 (Korea Bizwire) — A recent study showed that self-employed individuals operating their own business as the head of a household make less income than the labor income earned by household members, likely due to a severe slump in the market for self-employed work. The research center under the Korean Confederation of Trade [...]
SEOUL, Sept. 9 (Korea Bizwire) — Thousands of angry self-employed workers staged late-night drive-through protests in Seoul and provincial cities nationwide until early Thursday morning, condemning health authorities for endangering their livelihoods in their drive to combat COVID-19 through tough social distancing restrictions. An association of self-employed businesses, which organized the protest rallies, said at [...]
SEOUL, Sept. 6 (Korea Bizwire) – Self-employed people in South Korea plan to hold drive-through protests in several cities this week to call for eased COVID-19 restrictions and more compensation, the organizer said Monday. About 3,000 members of an emergency committee of the self-employed and other online communities are expected to participate in the rallies [...]
SEOUL, June 29 (Korea Bizwire) — The self-employed’s debts grew 3.1 percent in 2019 from a year earlier as their income declined amid an economic slowdown, data showed Tuesday. Financial institutions’ loans extended to the self-employed averaged 172 million won (US$151,800) as of end-2019, compared with 167 million won the previous year, according to the [...]
SEOUL, April 20 (Korea Bizwire) — With the job market still sluggish due to the spread of the coronavirus, an increasing number of young people are choosing to take matters into their own hands and launch their own businesses. The number of young people aged between the ages of 15 and 29 who were self-employed [...]
SEOUL, March 29 (Korea Bizwire) — More than 95 percent of the self-employed and mom-and-pop businesses have suffered a drop in sales since the outset of the coronavirus pandemic, a new survey by an association of the self-employed showed Monday. The association held a press conference in front of Seoul City Hall to release the [...]
SEOUL, Jan. 19 (Korea Bizwire) — An increasing number of self-employed and wage workers are working at least two jobs as the COVID-19 pandemic drags on. Statistics Korea reported that among new recruits in December, 407,000 people had experience working at a second job. Among them, 284,000 people were wage workers and 123,000 people were [...]
BUSAN, Jan. 11 (Korea Bizwire) — As the COVID-19 pandemic is threatening the livelihood of self-employed South Koreans, an increasing number of local citizens are lending helping hands by joining a movement to make payments in advance. A 40-something housewife surnamed Kim living in Seo District, Busan recently made an advance payment to the Taekwondo [...]
SEJONG, Oct. 29 (Korea Bizwire) — Debt held by the self-employed grew 4.7 percent in 2018, as their income fell amid the economic slowdown, raising concerns about their capacity to service debt, data showed Thursday. Average bank loans extended to a self-employed person amounted to 164 million won (US$144,000) as of end-2018, compared with 156 [...]