Individuals in Korea lament that it is too difficult to operate

Under the impact of high prices and high interest rates, many Korean individual households and small industrial and commercial people are overwhelmed. A report issued by South Korea's largest individual households and small industrial and commercial communities in June shows that in the past month, 4048 stores submitted to the sale application have been submitted, which has been doubled last month, 6 times the same period last year. Jinmou (35 years old), an owner of a real estate intermediary in the south of Gyeonggi -do, said that recently a wave of individual household store transfer has appeared. Some sports facilities such as rooms and gyms have also closed. Jin Mou Tu said that the increase in sales of sales could not keep up with the cost of raw material prices and labor costs. Therefore, many industry players insisted that they could only close the door.

The price index of South Korean consumer in May this year was 107.56, an increase of 5.4%compared with the same period last year, the highest level since August 2008. Korean food and raw materials are highly dependent on the international market. With the sharp depreciation of the Korean won and the continued rise in international commodity prices in the US dollar price, input inflation is becoming more and more intense in South Korea. The statistical figures of the Bank of Korea showed that prices in South Korea rose 5.4%last month, setting a new high in the past 13 years, and this year South Korea's price increase is likely to exceed the level of global financial crisis in 2008. On the other hand, the benchmark interest rate that continues to rise also increases the loan burden of individual households and small industrial and commercial. The "Financial Stability Report" released by the Bank of Korea has recently released that as of the end of March this year, the loan balance of South Korean sports households and small industrial and commercial fans was 9.07 trillion won, an increase of 40.3%over the end of 2019.

Some analysts believe that with South Korea's financial support for small industrial and commercial and individual households, it will end in September this year. In the future, the debt repayment risk of low -income individual households and small businessmen will further expand. Some experts have pointed out that because the epidemic continues to face difficulty in business difficulties and small industrial and commercial people, not only does not usher in the expected consumer demand for retaliation, but instead, it is deeper and deeper in the trap of high prices and high interest rates. ▲

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