Family retailers batteredInventory glut at recycled kitchenware stores and booming liquidation businesses point to battered family retailers in every corner of the country. The hardest hit sectors in Asia's fourth largest economy include hospitality, retail and restaurants, which are traditionally small, family-run businesses. South Korea has one of the world's highest proportion of self-employed people, about 25% of the job market, making it very vulnerable to downturns. Small business profit margins were thinning before COVID-19. So I will be sticking to my delivery part-time for a while," Kim said, observing the demolition of her business.

Source: The Edge Markets September 10, 2020 07:07 UTC