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An Analysis of the Influence of COVID-19 on Self-employed Business in Seoul

Author: 
Cho Dalho·Kang Misun·Yun Jongjin

This study analyzes the impact of COVID-19 on self-employed businesses in Seoul. From January 2020 to May 2022, 35.7% of Seoul citizen was infected with COVID-19. Although self-employed business in Seoul is a major economic entity, accounting for 38.5% of all businesses, sales YoY in 2020 decreased by 9.1%. The decrease in sales of self-employed businesses in Seoul seems to be more affected by policies such as social distancing than the number of confirmed COVID-19 patients. The government executed a budget for the first emergency disaster support fund to boost consumption. However, the effect of increasing sales of self-employed businesses was limited to some types of businesses such as supermarkets, butcher’s shop and so on.