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Entrepreneurial incentives in early stage South Korea 2019

This statistic displays the results of a survey asking South Korean entrepreneurs about their motivation for early-stage entrepreneurial activity in 2019. About 67.3 percent of the total ealry-stage entrepreneuers stated that they are starting or running a new business to build great wealth or very high income.

Motivation for early-stage entrepreneurial activity in South Korea in 2019

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Source

Release date

February 2020

Region

South Korea

Survey time period

2019

Number of respondents

2,000+ adults

Age group

18-64 years

Special properties

Based on 2019 GEM adult population survey

Method of interview

Questionnaire

Supplementary notes

< Definitions of listed indicators according to the source >
- Necessity-driven:
percentage of the population aged 18–64 years who have started a business out of necessity because they had no other option.
- Opportunity-driven:
percentage of the population aged 18–64 years who have started a business out of an opportunity.

The survey data shows that 13 percent of the total respondents reported to be involved in early stage of entrepreneurial activity, either in the process of starting a business or already started a business which is less than 42 months old.

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Statistics on "Startups in South Korea "

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