Shuttered shops: Self-employed suffer under economic woes
Published: 29 Dec. 2024, 18:36
![A store in the popular shopping area of Myeong-dong in Jung District, central Seoul, announces its closure on Dec. 29. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2024/12/29/0abd7fd2-5b6a-4b56-a1cb-782bb4c9f768.jpg)
A store in the popular shopping area of Myeong-dong in Jung District, central Seoul, announces its closure on Dec. 29. [YONHAP]
A store in the popular shopping area of Myeong-dong in Jung District, central Seoul, announces its closure on Dec. 29.
The self-employed in the country are struggling to stay afloat, with the loan delinquency rate of self-employed borrowers with low credit scores and income levels in the bottom 30 percent coming in at an average of 11.55 percent as of the end of the third quarter, according to a half-year financial stability report issued by the Bank of Korea on Dec. 24. The average delinquency rate of the self-employed in general, which has constantly been on the rise through this year, stood at 1.7 percent.
with the Korea JoongAng Daily
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