SEJONG, Nov. 5 (Korea Bizwire) — The number of nonwage workers such as those self-employed in South Korea edged down 0.9 percent in 2019 from a year earlier amid a protracted economic slump, government data showed Tuesday. There were 6.79 million unsalaried workers as of August, down 62,000 from the same period in 2018, according [...]
SEOUL, Apr. 1 (Korea Bizwire) — Loans and the loan default rate both rose for the self-employed last year, the regulator’s data showed Monday. The loans extended to the self-employed totaled 389.8 trillion won (US$342.83 billion) at the end of the third quarter last year, up 13.9 percent from the same period of the previous [...]
SEOUL, Jan. 2 (Korea Bizwire) — Small business owners in South Korea may face a bumpy road again this year despite a series of government measures to support them, industry watchers said Wednesday. The year 2018 was one of the worst years for self-employed people in Asia’s fourth-largest economy as they were hit hard by [...]
SEOUL, Dec. 17 (Korea Bizwire) — The South Korean economy has one of the highest portions of individuals running their own stores and shops, and they are getting pushed to the brink by a slumping economy and policy missteps, market watchers said Monday. Data from Statistics Korea put the number of self-employed people at some [...]
SEOUL, April 17 (Korea Bizwire) — During the latter half of last year, the number of business failures among self-employed South Koreans outstripped new business openings. According to a report from property research institute Research & Review, which was based on data from the Small Enterprise and Market Service, 2.5 percent of small businesses in the [...]
SEOUL, Dec. 26 (Korea Bizwire) – A growing number of unmarried persons are starting their own businesses apparently due to a lack of jobs, a report suggested Monday, noting the jobless rate of young people has remained record high. According to the report from Statistics Korea, 12.2 percent of all single men were self-employed as [...]
SEOUL, Dec. 1 (Korea Bizwire) – The number of one-man operations in South Korea swung to an upturn in the third quarter of this year, government data showed Thursday, apparently as more people set up shop for “non-voluntary” reasons amid a prolonged economic slump. The country’s mom-and-pop businesses, which don’t hire workers, numbered 4.09 million [...]
SEOUL, June 13 (Korea Bizwire) – The number of self-employed South Koreans in their 30s has been on a steady rise since late last year as a prolonged economic slump forces more young people to set up one-man operations instead of finding jobs, a report showed Monday. According to the report by the Korea Labor [...]
SEOUL, Jan. 8 (Korea Bizwire) – In Korea, who are the happiest and the saddest individuals? According to a survey published by Hyundai Research Institute on January 7, self-employed, divorced men in their forties are the most unhappy, and single women in their twenties in specialized professions were the happiest in 2014. The survey about economic [...]
SEOUL, Korea, April 30, 2014 (Korea Bizwire) – New loans offered by commercial banks to small business owners are gaining popularity. According to banking sources on April 29, “Neighborhood Loan” given out to self-employed businesspeople was sold 20.3 billion won in 544 cases as of April 22, with an outstanding loan balance at 15.4 billion [...]