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)
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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Ministry of SMEs and Startups. (May 30, 2024). Number of new companies in South Korea from 2016 to 2023 (in 1,000s) [Graph]. In Statista. Retrieved November 15, 2024, from https://www.statista.com/statistics/1323567/south-korea-number-of-new-businesses/
Ministry of SMEs and Startups. "Number of new companies in South Korea from 2016 to 2023 (in 1,000s)." Chart. May 30, 2024. Statista. Accessed November 15, 2024. https://www.statista.com/statistics/1323567/south-korea-number-of-new-businesses/
Ministry of SMEs and Startups. (2024). Number of new companies in South Korea from 2016 to 2023 (in 1,000s). Statista. Statista Inc.. Accessed: November 15, 2024. https://www.statista.com/statistics/1323567/south-korea-number-of-new-businesses/
Ministry of SMEs and Startups. "Number of New Companies in South Korea from 2016 to 2023 (in 1,000s)." Statista, Statista Inc., 30 May 2024, https://www.statista.com/statistics/1323567/south-korea-number-of-new-businesses/
Ministry of SMEs and Startups, Number of new companies in South Korea from 2016 to 2023 (in 1,000s) Statista, https://www.statista.com/statistics/1323567/south-korea-number-of-new-businesses/ (last visited November 15, 2024)
Number of new companies in South Korea from 2016 to 2023 (in 1,000s) [Graph], Ministry of SMEs and Startups, May 30, 2024. [Online]. Available: https://www.statista.com/statistics/1323567/south-korea-number-of-new-businesses/