South Korea: number of startups by sector 2023

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In 2023, approximately 450,000 new companies were founded in the wholesale and retail trade sector, making it the most prominent industry for startups in South Korea. The accommodation and food services sectors followed with almost 170,000 new startups established.

Number of new companies in South Korea in 2023, by business sector (in 1,000s)

Characteristic	Number of companies in thousands
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Release date

May 2024

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Region

South Korea

Survey time period

2023

Supplementary notes

Figures have been rounded.

A start-up or new company here refers to a for-profit business (including individual and corporate businesses) that has completed business registration with the National Tax Service. The figures also include the conversion of a sole proprietorship into a corporation, the merger or demerger of an existing business, and the resumption of the same company after closure.

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