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Number of SME employees rises for 4th month in June

All News 13:55 July 28, 2021

SEOUL, July 28 (Yonhap) -- The number of workers hired by South Korean small and medium-sized enterprises (SMEs) rose for the fourth straight month in June amid an economic recovery, a report showed Wednesday.

Local SMEs with fewer than 300 employees had a combined workforce of 24.83 million in June, up 438,000 from a year earlier, according to the report from the Korea Small Business Institute.

June marks the fourth consecutive month that the number of SME employees has grown from a year earlier.

Industrial sectors, such as health, social welfare services, construction and education services, reported gains, while manufacturing, as well as wholesale and retail, saw declines.

June's increase came amid a strong recovery of domestic demand in the face of the prolonged COVID-19 crisis.

South Korea's gross domestic product grew 0.7 percent on-quarter in the April-June period, after a 1.7 percent expansion in the first quarter. In particular, private consumption swelled 3.5 percent on-quarter.

Meanwhile, the number of self-employed people expanded by 29,000 from a year earlier to 5.58 million in June, marking the first on-year increase in 16 months.

The report also showed local SMEs' exports came to US$10.2 billion in June, up 30.9 percent from the same month a year earlier.

Number of SME employees rises for 4th month in June - 1


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