US EditionBusiness closures in South Korea surpass 1 mil. for first time
Summary by The Korea Times
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Record 1M shop owners close businesses in South Korea in 2024
Business closures on rise since 2023, with data indicating that increase caused in part by 'accumulated slump' during COVID-19 pandemic and rising delinquency rates due to high interest rates - Anadolu Ajansı
·Ankara, Türkiye
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Business closures in South Korea surpass 1 mil. for first time
In an online community of more than 1.8 million small business owners, a user in Jeonju, North Jeolla Province, wrote on Friday: “Am I the only one whose business is falling apart?” “The restaurant near my shop went out of business and has since been replaced by a rental space, and the walnut pastry store next to it also shut down,” the user continued. “This feels serious and unsettling.” The post was soon flooded with sympathetic replies, inclu…
·Korea, Republic of
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