Nearly 1 million Korean small business owners closed shop in 2023, the highest recorded number. Experts blame high interest rates and inflation, anticipating a bleaker outlook for 2024.
The minimum wage in 2025 will be 10,030 won ($7.30), marking the first time the compulsory hourly minimum wage has surpassed the 10,000 won level.
The Ministry of SMEs and Startups said Monday that it would extend the eligibility criteria for its electricity fee subsidy for small business owners, effective from the same day.
The government initiative to subsidize delivery fees for small business owners was largely met with cautious optimism, but some fear it will only benefit the platforms.
Stocks started sharply lower Friday amid expectations over a delay in U.S. interest rate cuts this year.
The Korea Chamber of Commerce and Industry urged the incoming National Assembly to defy partisanship and pass bills related to deregulation and the public's livelihoods.
The K-pop powerhouse behind BTS and NewJeans has been classified as a "large business group" under the rules of the financial regulator with assets exceeding 5 trillion won.
Shares opened higher Thursday as U.S. Federal Reserve Chair Jerome Powell reaffirmed rate cuts this year.
Shares opened lower Wednesday, tracking overnight losses on Wall Street, after robust U.S. manufacturing activity spurred speculation that the Federal Reserve will keep interest rates higher for the time being.
Korea's business outlook for the second quarter reached an 11-quarter high thanks to positive outlooks surrounding semiconductors and cosmetic products, a poll showed Sunday.
Korea JoongAng Daily Sitemap