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| ▲ This file photo shows an empty store in the posh district of Gangnam in Seoul on Aug. 18, 2025. (Yonhap) |
restaurant owners-tally
Number of restaurant owners shrinks for 21st month amid sluggish demand
SEOUL, March 1 (Yonhap) -- The number of restaurant owners has declined for over 20 straight months as of January, data showed Sunday, reflecting weak domestic demand amid the sluggish economy.
As of end-January, there were 801,887 active restaurants registered in the country, marking a 1.9 percent drop from a year earlier and the 21st consecutive month of on-year decline, according to the data compiled by the National Tax Service.
Over the same period, the number of active real estate business owners fell 0.3 percent to 2,428,387. The figure has been on a steady decline for 22 straight months since April 2024.
The declines in the two sectors came despite a slight uptick in the total number of small businesses.
As of January, there were 10,371,823 active businesses, up 1.7 percent on-year, the data showed.
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