economy

Closing a Business in Korea Now Costs $140,000 — So Owners Just Stay Open and Bleed

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Tired middle-aged Korean man standing alone in front of his small empty restaurant at night, closed sign on the door, dim interior light, rain-wet street reflecting neon signs, surrounding storefronts showing for-lease signs, representing South Korea's small business collapse crisis in 2026.

Imagine running a business that’s losing moneyevery single month. You want to close. You need to close. But the cost of shutting down is so highthat you simply can’t afford to quit. This is the reality for hundreds of thousandsof small business owners across South Koreain 2026 — and the numbers tell a devastating story. … Read more

Not Working Pays More Than Working in South Korea

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Split scene showing a person relaxing at home with a higher government benefit payment on their phone on the left, versus the same person exhausted at an office desk with a lower paycheck on the right, representing South Korea unemployment benefit exceeding minimum wage take-home pay

In 2026, South Korea has an unemployment benefitproblem that sounds like a joke — but isn’t. If you’re unemployed in South Korea right now,the government pays you ₩1,981,440 per month. If you’re working full-time at minimum wage?Your take-home pay is ₩1,947,880 per month. You read that right. In South Korea,not working pays more than working. … Read more