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Past year saw 247,000 small biz owners in S. Korea lose jobs: Report Updated: 2021-10-18 14:02:30 KST

This past year has left nearly 250-thousand former small business owners now without a job.
Data gathered by Yonhap News shows that out of everyone who either became unemployed or left the labor force between mid-September 2020 and the middle of last month, about 247-thousand had run a business just before.
Among them, a little over 40-thousand had employees while the rest, some 206-thousand, worked alone.
One researcher at a state-run institute said that the trend can't only be attributed to the pandemic as the overall digitalization of the economy along with the shift to non-contact operations may cause small business owners to struggle further.
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