Lockdown Eased, But Small Businesses Still Feel Pinch

  • By Park Soon-chan

    October 29, 2020 12:18

    Two weeks have passed since the government eased social distancing, but small businesses are still suffering from weak sales.

    According to Korea Credit Data, which manages the credit-card transactions of 660,000 small businesses, their sales between Oct. 12 and 25 fell 11 percent on-year.

    They also fell 11 percent during Oct. 5 to 11, before social distancing was eased, meaning the lifting of restrictions made no difference to them.

    By region, small businesses in Sejong city and Jeju Island suffered the smallest decline at just four percent. That is because Sejong is home to thousands of civil servants whose earnings were not affected, while Jeju is a tourist mecca.

    Small businesses in Seoul were hit hardest with a 14 percent decline, while those in Gyeonggi Province saw sales drop 11 percent and those in Incheon 10 percent.

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