Six out of ten self-employed young Koreans close businesses within two years

Six out of ten self-employed young Koreans close businesses within two years


Up to six in ten young self-employed Koreans
are apparently shutting down their businesses in less than two years. According to the Korea Employment Information
Service Sunday, the duration of self-employment among people aged between 23 and 37 was on
average 31 months. Around a third of them shut down their businesses
within a year. They earned on average two thousand U.S. dollars
a month, with over 40 percent working in the wholesale and retail business and food services.

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