In 2019, the share of new businesses still in operation after five years in South Korea was about 29 percent, while the survival rate of new businesses in OECD countries averaged nearly 41 percent. About two-thirds of South Korean startups closed their businesses after five years.
Survival rate of new businesses in South Korea compared to other OECD nations in 2019, by years of operation
Years of operation
South Korea
OECD member states*
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Gyeonggi Northern Chamber of Commerce and Industry. (March 2, 2021). Survival rate of new businesses in South Korea compared to other OECD nations in 2019, by years of operation [Graph]. In Statista. Retrieved July 23, 2024, from https://www.statista.com/statistics/1323672/south-korea-survival-rate-of-businesses-compared-to-oecd-by-age/
Gyeonggi Northern Chamber of Commerce and Industry. "Survival rate of new businesses in South Korea compared to other OECD nations in 2019, by years of operation." Chart. March 2, 2021. Statista. Accessed July 23, 2024. https://www.statista.com/statistics/1323672/south-korea-survival-rate-of-businesses-compared-to-oecd-by-age/
Gyeonggi Northern Chamber of Commerce and Industry. (2021). Survival rate of new businesses in South Korea compared to other OECD nations in 2019, by years of operation. Statista. Statista Inc.. Accessed: July 23, 2024. https://www.statista.com/statistics/1323672/south-korea-survival-rate-of-businesses-compared-to-oecd-by-age/
Gyeonggi Northern Chamber of Commerce and Industry. "Survival Rate of New Businesses in South Korea Compared to Other Oecd Nations in 2019, by Years of Operation." Statista, Statista Inc., 2 Mar 2021, https://www.statista.com/statistics/1323672/south-korea-survival-rate-of-businesses-compared-to-oecd-by-age/
Gyeonggi Northern Chamber of Commerce and Industry, Survival rate of new businesses in South Korea compared to other OECD nations in 2019, by years of operation Statista, https://www.statista.com/statistics/1323672/south-korea-survival-rate-of-businesses-compared-to-oecd-by-age/ (last visited July 23, 2024)
Survival rate of new businesses in South Korea compared to other OECD nations in 2019, by years of operation [Graph], Gyeonggi Northern Chamber of Commerce and Industry, March 2, 2021. [Online]. Available: https://www.statista.com/statistics/1323672/south-korea-survival-rate-of-businesses-compared-to-oecd-by-age/