In 2020, approximately 66.2 percent of newly established businesses in South Korea failed to continue operations after five years. This was highest among arts, sports and recreation-related services as well as accommodation and food services. The 5-year survival rate stood at 33.8 percent, which was notably lower than the OECD average of 45.4 percent.
5-year failure rate of new businesses in South Korea in 2020, by industry
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Yonhap. (October 3, 2023). 5-year failure rate of new businesses in South Korea in 2020, by industry [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1471340/south-korea-5-year-failure-rate-of-startups-by-industry/
Yonhap. "5-year failure rate of new businesses in South Korea in 2020, by industry." Chart. October 3, 2023. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1471340/south-korea-5-year-failure-rate-of-startups-by-industry/
Yonhap. (2023). 5-year failure rate of new businesses in South Korea in 2020, by industry. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1471340/south-korea-5-year-failure-rate-of-startups-by-industry/
Yonhap. "5-year Failure Rate of New Businesses in South Korea in 2020, by Industry." Statista, Statista Inc., 3 Oct 2023, https://www.statista.com/statistics/1471340/south-korea-5-year-failure-rate-of-startups-by-industry/
Yonhap, 5-year failure rate of new businesses in South Korea in 2020, by industry Statista, https://www.statista.com/statistics/1471340/south-korea-5-year-failure-rate-of-startups-by-industry/ (last visited December 21, 2024)
5-year failure rate of new businesses in South Korea in 2020, by industry [Graph], Yonhap, October 3, 2023. [Online]. Available: https://www.statista.com/statistics/1471340/south-korea-5-year-failure-rate-of-startups-by-industry/
