South Korea: overseas expansion intentions of startup founders 2020

According to a survey conducted in South Korea in September 2020, more than 44 percent of founders who have their businesses solely in South Korea actively attempted expansion, while around eight percent were not interested in expansion. Aside from these domestic startups, over 37 percent of all Korean startups already had overseas operations.

Intention for overseas expansion among startup founders in South Korea as of September 2020

Characteristic	Share of respondents
-	-
-	-
-	-
-	-
-	-

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Release date

November 2020

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Region

South Korea

Survey time period

September 18 to 28, 2020

Number of respondents

166 founders*

Supplementary notes

*In total, 1,116 respondents including 166 founders, 250 startup employees, 500 employees of large corporations, and 200 job seekers in college/graduate school participated in the survey.

Original question:
"Do you currently have an expanded business abroad? Are you currently considering overseas expansion?"

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