
Business Closures Surge as Busan's Retail Sales Decline
Busan’s economy is showing alarming signs of strain, particularly in the retail sector, where the second quarter of this year saw a 2.7% decrease in retail sales compared to the same period last year. This drop represents the highest decline since the height of the COVID-19 pandemic and reflects a broader national trend where retail sales have plummeted by nearly 3%, the steepest drop in 15 years. In Busan, the retail sales index for Q2 stood at 107.1 (based on 2020 = 100), marking a significan










