South Korea: number of micro-enterprises 2020

In 2020, there were about 6.84 million micro-enterprises in South Korea, up from about 6.45 million in the previous year. Micro-enterprises accounted for nearly 94 percent of all enterprises that year.

Number of micro-enterprises in South Korea from 2019 to 2020 (in 1,000s)

Characteristic	Number of micro-enterprises in thousands
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Release date

August 2022

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Region

South Korea

Survey time period

2019 to 2020

Supplementary notes

Micro enterprises are small enterprises that employ up to four or nine wage and salary workers with an employment contract more than three months.

Small enterprises are SMEs with three-year average sales of one billion South Korean won or less to 12 billion or less.

Small and medium-sized enterprises (SMEs) 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 the type of business, companies with average three-year sales of 40 billion South Korean won or less to 150 billion or less are defined as SMEs.

Figures have been rounded.

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