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 [...]
SEOUL, Sept. 11 (Korea Bizwire) — With South Korea’s self-employed and small businesses going through extremely tough times due to the resurgence of COVID-19, nationwide efforts are underway to help them overcome the hardships. A 39-year-old woman surnamed Kim who runs a small donut shop in Seoul has suffered from sluggish sales since the recent [...]
SEOUL, Sept. 8 (Korea Bizwire) – The number of self-employed people in South Korea has fallen at a far faster pace in 2020 than last year in the wake of the coronavirus outbreak, data showed Tuesday. Asia’s fourth-largest economy had 5.548 million self-employed people as of the end of July, down 127,000 from the same [...]
SEOUL, March 10 (Korea Bizwire) — While one in five office workers say they have had “experience in starting a business” in the past, many of them had to shut down fewer than two years later, a recent report showed. According to a survey conducted by job search portal JobKorea of 1,348 adult men and [...]
SEOUL, Jan. 5 (Korea Bizwire) — Debt incurred by households and self-employed businesses in South Korea is estimated to surpass 2,000 trillion won (US$1,713 billion) as of September last year, according to central bank data on Sunday. Outstanding household loans came to 1,481 trillion won at the end of last September, up 13.6 trillion won [...]
SEJONG, Dec. 27 (Korea Bizwire) — Small business owners in South Korea reported an average operating profit of 34 million won (US$29,264) last year, a survey showed Friday. According to the survey of 2,470 small business owners, conducted by Statistics Korea, they also posted average sales of 235 million won last year. The survey did [...]
SEOUL, Nov. 6 (Korea Bizwire) — The majority of self-employed business owners started their business based on a small amount of initial capital, and with only a short period of preparation. According to Statistics Korea, 70 percent of self-employed business owners starting a business in the last 12 months had initial capital of less than [...]