In an endless recession... Half of last year’s closures were stores that had been open for more than three years.

Ministry of SMEs and Startups’ ‘Status and Actual Status of Business Closures’: 976,000 last year… The average business closure rate in the six major small business industries is 68.5% holding debt when a commercial business closes... The older people are over 60, the more debt they have. Last year, nearly 1 million businesses closed. The smaller the business, the higher the rate of closure, and the older the business owner, the more debt there was when the business closed. In particular, the debt owed by those in their 60s or older who closed their businesses approached 100 million won. Starting a business...