South Korea: SME employment 2020

In 2020, there were about 17.5 million people employed by small and medium-sized enterprises (SMEs) in South Korea, slightly up from about 17.4 million in the previous year. SMEs were the largest employer in South Korea, with their workforce accounting for more than 80 percent of the country's total employment.

Number of people employed by small and medium-sized enterprises (SMEs) in South Korea from 2017 to 2020 (in millions)

Characteristic	Number of persons employed in millions
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Release date

October 2022

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Region

South Korea

Survey time period

2017 to 2020

Supplementary notes

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 South Korean won or less are defined as SMEs.

Figures have been rounded.

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