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Handmade jewellery shop opened · CLOSED after 1 yr 1 mo

Lee Su-bin, 26 · 1 yr 1 mo

“I forgot to pay myself. For 13 months.”

I closed after 1 year and 1 month. What remained was ₩56,912,555 in debt and 3 regulars.

On the last day, you posted a closing notice on the store’s front page. Cash ₩2,245,847, debt ₩56,912,555, 0 employees, 31 customers. You packed the last order, sent it off and closed the laptop. The business failed, but that time did not disappear.

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How it went

  1. 2026 · preparing to openLee Su-bin, 25. You have decided to try starting a company in Seoul. No idea, no product yet. Savings ₩65,480,000, employed (₩530,000 a month).
  2. Debt from day onePersonal debt: ₩360,000 a month for 61 months. It comes out regardless of the company.
  3. 10/2026: what now?Start a business: «Handmade jewellery shop» — You are going with «Handmade jewellery shop». Next: who works with you.
  4. Who starts it with you?Hire one experienced person properly — In the interview they knew this trade better than you. A little uncomfortable, a lot reassuring.
  5. 2026 · year 1 beginsChinese Demand Cooled
  6. 10/23 · A family emergencySomething came up in the family. You dropped what you were doing and went over.
  7. 11/22 · Equipment stoppedA key machine broke. Three days for the part to arrive; you did it by hand until then.
  8. 11/24 · Oil reached the cost baseBrent rose to $130 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
  9. You are short of moneyHold on — Instead of a loan you opened the household budget. No more eating out; repairs that could wait, waited. Holding on needed a plan too.
  10. 12/16 · FamilyAt dinner nobody brought up work. You understood that was a kindness.
  11. Cash ran outLet an employee go — You paid the last paycheck and severance. The next day the place was one person quieter. You hated the silence.
  12. 1/5 · The exchange rate pushed up import billsThe KRW/USD rate rose to 1,352. Imported materials and packaging follow it up.
  13. 1/6 · The rush before the long holidayOrders rose ahead of the long holiday. Delivery and stock both became tight at once.
  14. Cash ran outTake a credit loan — The rate is 14.0%. You can breathe, but the interest comes back every month. The repayment schedule in the banking app starts to look like a calendar.
  15. 2/9 · Supplier price increaseThe supplier said prices go up 4% from the next order. You need to find another supplier.
  16. 2/20 · Loan payment dayLoan payment day. ₩562,200 in principal and interest left the account. The balance is ₩30,000,000.
  17. 3/19 · A price warA seller with the same product cut the price by 10%. Your listing slipped a place in search.
  18. You are short of moneyHold on — Instead of the bank you called suppliers and asked for a month’s grace. Two said yes, one said no.
  19. 4/21 · Records requested by the tax officetax office requested records for card payment sales and cash sales. You opened the books again.
  20. 4/29 · Word got aroundA post in a local community said “this place is good.” Customers came in without warning today.
  21. 5/15 · Oil reached the cost baseBrent rose to $130 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
  22. 5/25 · Equipment stoppedA key machine broke. Three days for the part to arrive; you did it by hand until then.
  23. Cash ran outTake a credit loan — The rate is 14.0%. You can breathe, but the interest comes back every month. The repayment schedule in the banking app starts to look like a calendar.
  24. 6/9 · Down sickA sore throat and a fever. You got through the day in a mask.
  25. You are short of moneyHold on — You closed the loan papers. Instead you cancelled subscriptions, cut what you could do without and pushed the next payment date. Holding on is also a decision.
  26. 7/29 · Your mentorAn old mentor called. “What scares you most right now?” they asked.
  27. 8/13 · Supplier price increaseThe supplier said prices go up 6% from the next order. You need to find another supplier.
  28. 8/16 · Loan payment dayLoan payment day. ₩1,124,401 in principal and interest left the account. The balance is ₩58,262,204.
  29. 9/12 · The exchange rate pushed up import billsThe KRW/USD rate rose to 1,352. Imported materials and packaging follow it up.
  30. 9/27 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
  31. You are short of moneyHold on — Instead of a loan you opened the household budget. No more eating out; repairs that could wait, waited. Holding on needed a plan too.
  32. Chinese Demand CooledA prolonged slump in Chinese domestic demand and real estate lowered Asia's export outlook. Clients who bought raw materials cut orders, and domestic consumption turned cautious as well.
  33. Year 1 closeRevenue ₩12,155,082, loss ₩37,527,115. Cash ₩9,785,480.
  34. 2027 · year 2 beginsLoan Facility Review
  35. 10/4 · A signal from your bodyYour chest felt tight, so you went to the emergency room. The result was “overwork.”
  36. 10/5 · A family emergencyAn urgent call from a sibling. You were away for half a day.
  37. Cash ran outClose the shop — On the last day you closed the books. The faces of a few regulars came to mind first.
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