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Friday, December 19, 2003

(Small businesses) "Seomin-type" businesses in favor

"2003 business opening trends: sŏmin-type business favored in the economic slump" (Chosun Ilbo)
The economic slump has affected small businesses as well as any other; big hoe fish restaurants and other large-scale food places, which have been opened in big numbers after the "IMF crisis", have been hit in hard way

Still, "business opening rate" (ch'angŏp hwaltong chisu) in South Korea is 3rd highest in the world. The rate is measured as the proportion of economically active people working in business establishments less than 42 months old; the figure in Korea is 14%, which ranks 3rd after Thailand and India.

à Of course this shows not only the rush to open new businesses due to the insecurity of wage employment, but also the insecurity of small businesses, and the propensity of people to found new ones in case the old one goes bust or is not profitable.

The rest of the business opening trends: ◆경영 능력에 따른 ‘빈익빈 부익부’ 심화 ◆인기 업종의 양극화 ◆청년 창업 활기 ◆가맹점 관련 법규 시행 원년 ◆인터넷 사업의 성공 가능성 발견

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