South Korea: number of SMEs by age 2020

In 2020, there were approximately 1.6 million small and medium-sized enterprises (SMEs) in South Korea that were more than one year and less than three years old. The majority of SMEs in South Korea had been in operation for no more than seven years. The total number of SMEs in South Korea amounted to about 7.3 million in 2020.

Number of small and medium-sized enterprises (SMEs) in South Korea in 2020, by years of operation (in 1,000s)

Years of operation	Number of SMEs in thousands
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Release date

August 2022

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Region

South Korea

Survey time period

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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