Sluggish economy discourages start of new companies in Korea
Heavily indebted households in South Korea
Sejong - Yonhap
Sluggish economic condition in the 2012-2013 period hindered the creation of new companies and caused more existing firms to shut down, government data showed Wednesday.
Analysis by Statistics Korea revealed 749,000 new companies were formed in 2013, down 21,000 from the year before. The business birth and death report said 741,000 businesses closed in 2012, 58,000 more than the previous year.
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