Korean SMEs make inroads in Southeast Asian markets through co-prosperity program

A growing number of Korean small- and medium-sized enterprises (SMEs) are tapping into Southeast Asian markets by teaming up with K-pop idols and influencers, supported by a government-backed program.

2026-01-07

Voucher program goal up in smoke? Use for cigarettes, beauty treatment criticized.

Korea's latest consumer coupon program, meant to boost spending at small businesses, is drawing criticism after a viral post on Sunday revealed that recipients are using the subsidies to buy cigarettes or receive beauty treatments.

2025-07-27

Garosu-gil a ghost town as small businesses wither with fewer passersby

Commercial zones are entering a death spiral with spikes in vacancies nearly across the board as a lack of foot traffic kills off small businesses, leading to alarming numbers of "For Rent" signs in what were some of the trendiest neighborhoods.

2025-06-28

Overseas spending soars during Korea's 'golden week,' putting effectiveness of substitute holidays in doubt

Overseas spending far outpaced domestic consumption during Korea’s six-day “golden week” holiday earlier this month, raising questions about the effectiveness of government-designated substitute holidays aimed at boosting local demand.

2025-05-19

Six of 10 self-employed businesses die before age five, says tax service

Six out of ten self-employed businesses in Korea close within five years of opening, with survival rates varying widely depending on the type of business, according to data from the National Tax Service (NTS).

2025-04-29

Hana allocates $7M for small business improvement projects

Hana Financial Group has allocated 10 billion won for environmental, social and governance projects for small businesses this year as part of the group’s aim to prioritize customers and on-site operations.

2025-03-27

Yoon pledges support for small business owners in a bid to aid ailing economy

President Yoon Suk Yeol pledged Monday to introduce measures to ease the burden on small merchants from delivery app commission fees, as part of efforts to boost sluggish domestic consumption. Yoon vowed to implement measures during a public policy..

2024-12-02

2024 Small Business Day goes big in Gwanghwamun Square

Visitors wander around the 2024 Small Business Day event in Gwanghwamun Square in central Seoul on Tuesday.

2024-11-05

Summer slowdown burns out small businesses

A restaurant sits shuttered in a traditional market in Seoul on Tuesday.