According to the Small Enterprise and Market Service on June 7, authorities plan to carry out a "status check and fact-finding survey for sustainable growth" targeting the designated century-old small businesses. They are currently discussing specific implementation plans with the Ministry of SMEs and Startups. The goal is to accurately assess the capabilities of individual businesses based on the collected data and develop customized support measures according to their growth stages.
The survey will encompass all 2,326 businesses as of February, including 1,407 century-old stores and 919 century-old small enterprises. The Small Enterprise and Market Service will deploy survey personnel to conduct both phone and in-person interviews.
Key survey items include: basic business status checks, actual size metrics such as sales and number of employees, online and offline sales formats and revenue proportions, and the status of business succession and future plans.
In particular, the survey aims to address one of the causes of business closures: the reluctance of younger generations to take over family businesses and the lack of successors. By compiling data on the succession challenges faced by century-old small businesses, the government hopes to alleviate the excessive tax burdens that arise during the inheritance of sole proprietorships.
Critics have pointed out that government tax support measures, such as the business succession exemption, have primarily focused on corporate small and medium-sized enterprises, leaving many small businesses without institutional benefits. Industry insiders believe this comprehensive survey will help alleviate concerns stemming from budget cuts and establish a foundation for the survival of these long-standing businesses.
The budget for supporting century-old small businesses reached 7.695 billion won in 2022 but has since plummeted to around 400 million won last year. This year, the budget has been increased by approximately 1 billion won to 1.472 billion won, providing some relief, but industry experts argue that it remains insufficient to fully support all 2,300 designated businesses.
To shed the stigma of merely "hanging a plaque and leaving them unattended" amid limited funding, there are calls for targeted support for struggling small businesses and those that have already achieved self-sufficiency. As of the end of 2025, a total of 41 century-old small businesses (23 century-old stores and 18 century-old small enterprises) had their designations revoked due to management deterioration or failure to meet requirements, highlighting the urgent need for a systematic post-management system.
A representative from the Small Enterprise and Market Service stated, "Through this comprehensive phone and in-person survey, we will link the valuable infrastructure data obtained to our platform and provide one-on-one tailored support to each century-old business according to their growth stages, even in the face of reduced budgets."
* This article has been translated by AI.
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