South Korea: number of enterprises by size

In 2020, there were around 7.3 million small and medium-sized enterprises (SMEs) and about nine thousand large enterprises in South Korea. Small and medium-sized enterprises accounted for about 99.9 percent of all enterprises in South Korea that year.

Number of enterprises in South Korea in 2020, by size of enterprise

Characteristic	Number of enterprises
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Release date

August 2022

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Region

South Korea

Survey time period

2020

Supplementary notes

Small and medium-sized enterprises are for-profit businesses whose total assets do not exceed 500 billion South Korean won and which meet the criterion of independence (not a subsidiary of a large enterprise).

Depending on business type, companies with three-year average sales of 40 billion South Korean won or less to 150 billion or less are defined as small and medium enterprises.

While small enterprises are companies with three-year average sales of one billion South Korean won or less to 12 billion or less, micro enterprises are small enterprises that employ up to four or nine wage and salary workers with an employment contract more than three months.

Large enterprises are companies that are not small and medium-sized enterprises, such as large business groups that are subject to cross-shareholding restrictions.

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