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Past year saw 247,000 small biz owners in S. Korea lose jobs: Report Updated: 2021-10-18 13:43:29 KST

In the past year, nearly a quarter million people in Korea have lost their small businesses in large part because of the pandemic but because of other factors too.
Data compiled by Yonhap News show that in the twelve months ending mid-September, of all those who became unemployed or left the labor force, 247-thousand had been business owners.
Around 206 thousand of those worked alone, but a little over 40-thousand had employees.
One researcher at a state-run institute said that the loss of these businesses is not only because of the pandemic but also the digitalization of the economy in general and the move to so-called non-contact forms of business.
KOGL : Korea Open Government License
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