In 2020, only 33.8 percent of newly established businesses in South Korea managed to remain operational after five years, while the average five-year survival rate for new businesses in OECD countries was notably higher at 45.4 percent. This means that roughly 66 percent of startups in South Korea ceased operations within the first five years of establishment.
5-year survival rate of new businesses in South Korea compared to other OECD nations in 2020
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Yonhap. (October 3, 2023). 5-year survival rate of new businesses in South Korea compared to other OECD nations in 2020 [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/1471334/south-korea-5-year-survival-rate-of-startups/
Yonhap. "5-year survival rate of new businesses in South Korea compared to other OECD nations in 2020." Chart. October 3, 2023. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/1471334/south-korea-5-year-survival-rate-of-startups/
Yonhap. (2023). 5-year survival rate of new businesses in South Korea compared to other OECD nations in 2020. Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/1471334/south-korea-5-year-survival-rate-of-startups/
Yonhap. "5-year Survival Rate of New Businesses in South Korea Compared to Other Oecd Nations in 2020." Statista, Statista Inc., 3 Oct 2023, https://www.statista.com/statistics/1471334/south-korea-5-year-survival-rate-of-startups/
Yonhap, 5-year survival rate of new businesses in South Korea compared to other OECD nations in 2020 Statista, https://www.statista.com/statistics/1471334/south-korea-5-year-survival-rate-of-startups/ (last visited December 03, 2024)
5-year survival rate of new businesses in South Korea compared to other OECD nations in 2020 [Graph], Yonhap, October 3, 2023. [Online]. Available: https://www.statista.com/statistics/1471334/south-korea-5-year-survival-rate-of-startups/
