Go to Contents Go to Navigation

Small merchants' sales at 6-month low over stricter virus curbs

All News 10:37 September 02, 2020

SEOUL, Sept. 2 (Yonhap) -- South Korean small merchants' revenues, when measured by consumers' card spending, sharply fell to the lowest in six months last week as the country imposed stricter social distancing over a resurgence of virus cases, data showed Wednesday.

An index gauging the average sales of small merchants across the nation reached 0.75 in the final week of August, compared with the same period of last year when the index was at 1, according to Korea Credit Data, a consultancy for smaller firms.

The reading translates to smaller merchants' revenues amounting to 75 percent of the level recorded in the same period of last year.

The figure also marked the lowest since the final week of February when the first wave of the virus outbreak gripped the country.

This photo, taken on Sept. 1, 2020, shows a closed shop in Seoul's shopping district of Myeongdong as South Korea imposed stricter anti-virus curbs to fight the flare-up in virus cases. (Yonhap)

The fall in sales came as the country expanded stricter social distancing across the nation on Sept. 23 to contain the fast spread of COVID-19.

Health authorities began to impose further stringent anti-virus curbs in the greater Seoul region on Sunday, restricting operations of restaurants and franchise coffee chains for eight days.

Merchants operating mom and pop stores in Seoul, in particular, suffered a sharp decline in revenues, the data showed.

South Korea has been struggling to contain the spike in virus cases since Aug. 14 when the number of daily virus infections reached 103.

The country's new virus cases stayed below 300 for the fourth straight day on Wednesday, but its additional virus infections have been in the triple digits for three weeks.

The image, provided by Yonhap News TV, shows payment with a credit card. (Yonhap)


Issue Keywords
Most Liked
Most Saved
Most Viewed More
Send Feedback
How can we improve?
Thanks for your feedback!