Shutter shopping district, vacant office
... The site where the Korean economy died
Office vacancy rates in Seoul rose to 11.4 percent
in the October-December quarter of last year,
due to the closure of small businesses.
Compared to 6.4% in 2013, it almost doubled in five years .
There are more vacant offices in the north and south of the Han River,
and there are many areas
where the vacancy rate has reached around 20% .
The vacancy rate for store properties also increased from 5.5% in 2013 to 7%
in the October-December period of last year.
The vacancy rate has risen by a factor of two to three
in the trading area that represents Seoul,
including the Gangnam trading area such as Nonhyeong-dong
and Cheongdam-dong,
which has never been erased even in the past economic downturn,
and Itaewon, Shinchon and Myeongdong.
There are many places that reach 20%.
Because this is a popular area in central Seoul ,
it will be worse in the suburbs and areas of Seoul.
That indicates that the economic downturn in the field is serious .
The number of self-employed workers who went out of business
last year increased to 1 million .
Loans to wholesale and retail businesses increased by 9.7 percent,
the largest increase in nine years, as a result
of troubled self-employed workers in debt.
The self-employed economic downturn is not a recent one,
but the income-led growth policy of the MoonJae-in government
has become even colder .
As a result of rapidly raising the minimum wage
and shortening working hours,
ordinary people lost their jobs and their income decreased .
Employment for lodging,
eating and drinking, wholesale and retail decreased by 90,000 per year,
and the working income of the lower 20% of the income decreased
by 37% .
Empty offices and stores
with shutters are the result of false policy experiments.
Even so, the MoonJae-in administration has said
it will continue its income-led growth policy .
Until the Economic and Social Labor Commission,
which was launched to regulate the minimum wage increase
and to supplement the 52-hour work week,
the National Democratic Labor Union Federation (the Democratic Labor Union)
has been unable to take action due to runaways.
The policy of adjusting the pace of increase based on
the "company's ability to pay"
when determining the minimum wage has been ruled out of the review,
in the face of labor opposition.
According to the micro-trader trade area analysis system,
it has become clear that in the second half of last year,
the out- of- business rate exceeded the founding rate .
The founding rate in the Seoul area is only 2.4%,
and the out-of-business rate is 4.3%.
Of the 100 stores, 4.3 were closed and 2.4 were newly established.
If self-employed people, which account for over 20%
of the economically active population,
face severe situations, the common economy will be seriously hit .
Raising the minimum wage has a big impact on the self-employed .
According to data in 2010,
small business owners with four or less had annual sales
of 428,141 billion won (9.9%),
but the operating profit margin was the highest at 17.7%.
The reason is that the burden of labor costs is small.
The operating profit margin was the highest
for the personal business (20.3%).
The increase in minimum wages will be seriously affected,
especially for entities with four or fewer people.
The percentage of people living with less than 300 people
is so serious that it accounts for only 10% of total industry sales.
BTS members famous for atomic bomb T-shirts
are crazy inside the bus
Videos leaked!
https://twitter.com/i/status/1062852872176451584
Overseas fans seem to be exactly the same
Suddenly overflowing with compliments of English praise. Creepy…
![](https://www-img.dclog.jp/m/EntryImage?bid=8570222&eid=573219279&t=1543213814&sig=a0a374cc6d6eeb8ddc17ea64e5f490ad&rid=2.jpg)