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BackJin-seok Moon, “The warmth of growth does not reach the alleys… We need to open a route for business closure and re-employment.”
Jin-seok Moon, “The warmth of growth does not reach the alleys… We need to open a route for business closure and re-employment.”
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연합뉴스1 hour agoBusiness2 min readSouth KoreaView original

Jin-seok Moon, “The warmth of growth does not reach the alleys… We need to open a route for business closure and re-employment.”

Jinseok Moonself-employedAnnual income less than 12 million won

Quick Look

Representative Moon Jin-seok pointed out that although the economic growth rate has increased due to the semiconductor boom, the number of self-employed businesses with annual income of 12 million won or less has increased by 42% compared to 2020, so the warmth is not reaching the alleys, and urged that a path for business closure and re-employment should be established together.

AI-generated summary

Why It Matters

Despite overall economic growth due to the boom in the semiconductor industry, the number of low-income self-employed businesses is increasing, showing that the benefits of economic growth are not being sufficiently delivered to small business owners.

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Jin-seok Moon, “The warmth of growth does not reach the alleys… We need to open a route for business closure and re-employment.”

(Seoul = Yonhap News) Reporter Ahn Jung-hoon = Although the economic growth rate has increased due to the boom in the semiconductor industry, it has been pointed out that the number of workplaces with 'annual income of less than 12 million won' has increased again, and the warmth is not reaching the level.

According to data submitted by National Tax Service on the 25th by Moon Jin-seok, a member of the National Assembly's Finance and Economic Planning Committee, there are 8,379,407 self-employed businesses with an annual income of 12 million won or less in 2024.

This is an increase of approximately 42% from 5,832,552 cases in 2020.

The proportion of workplaces with an annual income of 12 million won or less increased from 64.4% in 2020 to 66.8% in 2024.

In addition, the number of businesses with zero sales was found to have increased from 780,363 (8.5%) in 2020 to 1,107,690 (8.8%) in 2024. As the number of self-employed people increases, the proportion of businesses that actually do not incur labor costs continues to decline.

Representative Moon said, “The growth rate has increased due to the semiconductor boom, but the warmth is not reaching the alleys.” He added, “Beyond support to help them survive, we must also open a route for business closure and re-employment so that they can organize and start over in time.”

Open Questions

  • What are the specific causes of the increase in low-income self-employed people?
  • What are the specific policy measures to support business closure and re-employment?

Related Topics

Jinseok Moon
PeopleAn Jeong-Hoon
OrganizationsDemocratic Party of KoreaYonhap NewsNational Tax Service
PlacesSeoul
Topicsself-employedAnnual income less than 12 million wonclosed downRe-employmentsemiconductor boomNational Tax Service data
This article was originally published by 연합뉴스.

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