Number of startups South Korea 2016-2023

Published by L. Yoon, Jun 25, 2024

In 2023, around 1.2 million startups were founded in South Korea, down from around 1.3 million in the previous year. The number of new companies has fallen in recent years.

Number of new companies in South Korea from 2016 to 2023 (in 1,000s)

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Release date

May 2024

Region

South Korea

Survey time period

2016 to 2023

Supplementary notes

Figures have been rounded.

A start-up or new company here refers to a for-profit business (including individual and corporate businesses) that has completed business registration with the National Tax Service. The figures also include the conversion of a sole proprietorship into a corporation, the merger or demerger of an existing business, and the resumption of the same company after closure.

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