Yonhap News8h agoBusinessSouth Korea
Korea's Small Businesses Struggle Amid Economic Headwinds
Quick Look
- Korea's booming semiconductor sector masks a grim reality for small businesses.
- High inflation, interest rates, and a weak won are crushing domestic demand, leading to record closures, especially in the restaurant industry.
- Despite economic growth, self-employed workers face mounting debt and rising costs.
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Korea's booming semiconductor sector masks a grim reality for small businesses. High inflation, interest rates, and a weak won are crushing domestic demand, leading to record closures, especially in the restaurant industry. Despite economic growth, self-employed workers face mounting debt and rising costs.
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This article was originally published by Yonhap News.
