Tag: self-employed

self-employed

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A man moves ingredients before opening for business at a restaurant district in Seoul, in this file photo taken on Jan. 26. [YONHAP]

One in 20 self-employed borrowers late on loan repayments as economy slows down, data shows

One in 20 self-employed people with loans was late on their debt repayments as of last year, highlighting the sluggish economy amid rising interest rates, data showed Wednesday.

2026.2.18

A ‘For Rent’ banner hangs on a commercial building in Seoul on Sept. 11. [NEWS1]

Debt held by self-employed hits record high in Q2: BOK

Debt held by the self-employed reached a record high of nearly 1,070 trillion won ($746 billion) in the second quarter of this year, data showed Sunday.

2025.10.12

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Stress lives rent free

A "for rent" sign is posted on a store in the Garosu-gil area of Gangnam District, southern Seoul, on July 10.

2025.7.10

This photo taken June 22, 2025, shows apartment buildings in Seoul. [YONHAP]

Bank of Korea warns of financial stability risks from high household debts, economic slowdown

Highly indebted self-employed businesses, soaring household debts and the economic slowdown are posing risks to the overall financial stability, the central bank said Wednesday.

2025.6.25

Lender limbo: Surge in self-employed borrowers classified as credit risk

The number of self-employed borrowers in credit risk has surged nearly 30 percent, as many struggle to repay loans from multiple lenders.

2025.4.27

A pedestrian in Seoul on Feb. 25 walks past a vacant retail property, which previously contained a store that opened in September 2022 but closed only three years later. [YONHAP]

Open-and-shut case: Self-employed report terrible 2024

A pedestrian in Seoul on Feb. 25 walks past a vacant retail property that contained a store that opened in September 2022 but closed only three years later.

2025.2.25

Hard times: Self-employed debt defaults surge in 2024

Pedestrians stroll through Myeong-dong in central Seoul on Feb. 16.

2025.2.16

Shuttered shops: Self-employed suffer under economic woes

A store in the popular shopping area of Myeong-dong in Jung District, central Seoul, announces its closure on Dec. 29.

2024.12.29

Enhance the productivity of the self-employed

The self-employed sector also must be able to build up economies of scale through raising competitiveness.

2024.10.7

Pedestrians pass by a vacant office for rent. [NEWS1]

Service spending declines for five straight quarters as consumers tighten belts

The rising cost of living in Korea is forcing many consumers to tighten their belts, as evidenced by the recent decline in face-to-face service spending.

2024.9.30