The government is considering deleting overdue debt records for small business owners and people in vulnerable classes that had piled up during the Covid-19 pandemic.
President Yoon Suk Yeol promised to provide more financial support to small businesses in the form of low-interest loans and waivers for Covid-related loan repayments.
The presidential office on Monday backtracked comments by President Yoon Suk Yeol that appeared to suggest he was considering ways to suspend the International Labour Organization's (ILO) ban on wage discrimination against foreign workers in Korea.
As the small business owners are the “small veins of the economy,” their groans are too acute to ignore.
The business survey index (BSI) of small business owners in Korea dropped 5.7 points to 57.0 on month in November, according to the Small Enterprise and Market Service on Thursday.
The government will provide an emergency handout of 3 million won for small business owners affected by the pandemic, starting from Feb. 23.
Gwangjang Market in Jongno District, central Seoul, has only few customers on Thursday. The Covid-19 pandemic, which started exactly two years ago in Korea, has taken a toll on small businesses.
A notice on social distancing rules is posted at the Gyeongdong Market in Dongdaemun District, central Seoul, Wednesday.
Small business owners hurt by social distancing restrictions say they're taking collective action to fight the government’s measures.
Korea JoongAng Daily Sitemap