Share of SMEs South Korea 2022

*Companies that exceed the scope of a small business as follows:

• Companies exceeding the size standard after the Enforcement Decree of the Framework Act on Small and Medium Enterprises [Appendix 1]
• Companies with total assets of 500 billion South Korean won or more
• Companies belonging to the group of companies subject to disclosure
• Companies that are subsidiaries of a corporation with total assets of 500 billion South Korean won or more

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.

Large enterprises are companies that are not small and medium-sized enterprises, such as large business groups that are subject to cross-shareholding restrictions.