small business Archives | Be Korea-savvy
Job Possibilities Scarce for the Older Unemployed

Job Possibilities Scarce for the Older Unemployed

SEOUL, Nov. 6 (Korea Bizwire) — A new report shows that the number of involuntary retirees caused by the ‘COVID-19 recession’ has been on the rise, heightening uncertainty and anxiety over life after retirement in a society where achieving retirement security is increasingly elusive among older workers. More than 70 percent of respondents over 40 [...]

Hundreds of Merchants Hold Late Night Drive-through Rally Against COVID-19 Restrictions

Hundreds of Merchants Hold Late Night Drive-through Rally Against COVID-19 Restrictions

SEOUL, July 15 (Korea Bizwire) — More than 750 small business owners held a drive-through rally late Wednesday night to protest the government’s strengthened COVID-19 restrictions in light of a recent flare-up of infections, organizers said. The merchants, who united under the banner of a national emergency committee for small business owners, drove around 11 [...]

Small Business Employees Hit Harder by ‘Corona Blues’

Small Business Employees Hit Harder by ‘Corona Blues’

SEOUL, April 22 (Korea Bizwire) — Employees at small and medium-sized enterprises (SMEs) are more vulnerable to depression and stress caused by the coronavirus pandemic, also dubbed the “corona blues,” than their counterparts at large companies, a state agency said Thursday. The Korea Workers’ Compensation and Welfare Service affiliated with the labor ministry came to [...]

Small Businesses Air Grievances over Extended COVID-19 Restrictions

Small Businesses Air Grievances over Extended COVID-19 Restrictions

SEOUL, March 12 (Korea Bizwire) – Small business owners in the capital area expressed frustration Friday after the government extended coronavirus restrictions for another two weeks, saying they could hardly remember a time when business was worse. In cities ranging from Incheon and Osan to Uijeongbu, all located in the greater Seoul area, restaurants, coffee [...]

Gov’t to Offer Relief Grants of Up to 3 mln Won to Virus-hit Small Biz

Gov’t to Offer Relief Grants of Up to 3 mln Won to Virus-hit Small Biz

SEJONG, Dec. 27 (Korea Bizwire) — South Korea will offer relief grants of up to 3 million won (US$2,700) for small business owners hit by the new coronavirus outbreak, ruling party and government officials said Sunday. The decision on the country’s third round of emergency relief package was reached during a high-level policy discussion between [...]

Small Businesses Spend Average of 840,000 won per Month on Delivery Applications

Small Businesses Spend Average of 840,000 won per Month on Delivery Applications

SEOUL, Dec. 28 (Korea Bizwire) — Small business owners spend an average of 840,000 won (US$716) a month on online delivery service applications. Of the money spent, half of it is spent on advertising via the application. Business owners want half of what they are spending on the application, 200,000 won, for advertisements. This data [...]

Samsung to Fund 50bln Won to Support Small Biz Smart Factories

Samsung to Fund 50bln Won to Support Small Biz Smart Factories

SEOUL, Jul. 31 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it will donate 50 billion won (US$44.7 million) to an industrial foundation to help small firms set up smart-factory infrastructure in their production centers. The South Korean tech giant said through a regulatory filing that its board has decided to provide 10 billion won [...]

Government to Forgive 480 Billion Won of Small Business Debt

Government to Forgive 480 Billion Won of Small Business Debt

SEOUL, Jul. 23 (Korea Bizwire) — The government has decided to acquire 480 billion won of debt incurred over 10 years ago by small business owners, of which most will be written off. Meanwhile, an additional 1 trillion won will be pumped into the “Make it Happen” loan program for small business owners, which was [...]

7 out of 10 Small Businesses “Unable to Cope with Minimum Wage Hike”

7 out of 10 Small Businesses “Unable to Cope with Minimum Wage Hike”

  SEOUL, Jul. 23 (Korea Bizwire) – A majority of small business owners in South Korea are considering reducing staff after being having difficulty coping with the government’s recent minimum wage hikes, the latest of which is set to come into effect next year. According to a survey of 300 small business owners and vendors [...]