Monday, November 29

9.21 million small business owners… 2.8% increase over the previous year

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According to the Ministry of SMEs and Startups, as of the end of 2019, the number of workers in small businesses increased by 2.8% from the previous year to 9,219,000.

This is about 44% of the total company employees.

By industry, the wholesale and retail industry accounted for 24% with 2185,000 people, followed by the lodging/restaurant industry, real estate industry, and manufacturing industry.

According to the National Statistical Office, Koreans enter a ‘life in surplus’, where labor income exceeds consumption from the age of 28, peaking at age 41, and from age 60 onward, consumption increases more than labor income.

As of 2019, the 147 trillion won in taxes paid by the 15-64 year-old working age group was estimated to be 71 trillion won and 76 trillion won, respectively, distributed by the government to children under the age of 14 and senior citizens aged 65 and over.

Ahead of Black Friday, the largest shopping event in the United States, overseas direct purchase consumers need to be careful.

According to the Consumer Agency, a total of 35,000 customer consultations related to overseas direct purchase have been received over the past three years, and those received between November and December accounted for 19% of the total.

The Consumer Agency urged them not to make hasty purchase decisions after seeing advertisements for limited quantities discount, etc., but to frequently check the delivery status of goods and respond promptly when problems arise.

The Ministry of Land, Infrastructure and Transport announced that manufacturing defects were found in 223,330 vehicles of 84 models imported from BMW Korea, Mercedes-Benz Korea, and GM Asia Pacific regional headquarters, and they will voluntarily take corrective action.

The owner of the recalled vehicle will receive corrective instructions by mail and mobile phone text message.

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