Negative economic sentiment for independent business owners due to minimum wage hike
  • 6 years ago
It appears that Korea's independent business owners have far more negative economic outlook than salaried workers.
According to the Bank of Korea on Sunday, for July's consumer sentiment index, independent business owners were at 79 -- 12 points lower than salaried workers who were at 91.
The consumer sentiment index measures how people feel about the domestic economy in the next six months.
If it goes below 100, it means more people are pessimistic than optimistic.
Among independent business owners, the negativity is believed to be because of the recent hike in the minimum wage and higher rent.
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