South Korea: SME employment by size 2020

In 2020, about 9.46 million people were employed in micro-enterprises and about 4.3 million in small enterprises in South Korea. 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 in 2020, by enterprise size (in millions)

Characteristic	Number of persons employed in millions
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Release date

August 2022

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Region

South Korea

Survey time period

2020

Supplementary notes

*Micro-enterprises excluded

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.

Medium-sized enterprises are small and medium-sized enterprises (SMEs) that are not classified as small enterprises.

Small enterprises are SMEs 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 whose employment contract has a term of three months or more.

Figures have been rounded.

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