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One in three Korean business owners now aged 60 or older
Original: 1 in 3 Korean business owners is now 60 or older
A third of South Korean business owners are now 60 or older, highlighting the country's rapidly ageing workforce and small-business community. The figure underscores a generational bottleneck: many older owners have no succession plan, while younger Koreans face barriers to taking over or starting firms. The statistic is prompting fresh debate about how Korea will renew its business base as its population ages.
Why now: The ageing of Korea's small-business owners raises concerns about succession, youth employment and the economy's future.
South KoreaKorea JoongAng Daily
Evidence
- 1 in 3 Korean business owners is now 60 or older · Korea JoongAng Daily
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