[Alpha Biz= Reporter Kim Jisun] The number of self-employed individuals in Busan operating without employees has decreased for 16 consecutive months, marking the longest decline in nearly a decade since the 22-month drop between 2014 and 2016.

This continuous decline is attributed to the prolonged slump in domestic demand, exacerbated by high interest rates and inflation, which has hit small business owners particularly hard.

According to the National Statistical Office’s KOSIS data on the 18th, the number of self-employed individuals in Busan without employees was 237,000 last month, a decrease of 27,000 (10.2%) compared to the same month last year. This marks the 16th consecutive month of decline since May 2022.

In comparison, the number of self-employed individuals with employees (76,000) also decreased from August of last year (78,000), but the drop was smaller, with a decrease of 2,000 (2.6%), highlighting a more pronounced decline among solo business operators.

 

 

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