In 2020, start-ups a year old or less made up the largest number of start-ups in South Korea, with around 659.4 thousand out of a total of about 3.1 million. Start-ups two years old or less accounted for approximately 42 percent of the total. That year, over 3.6 million people were employed within these start-ups.
More and more people have been establishing start-ups in South Korea. Most of these people were already in employment before launching their start-ups and had about ten years of work experience on average. Around sixty percent of startup founders were in their 40s and 50s. Start-ups are not always successful, and around 28.8 percent of the founders surveyed had founded a startup for the second time.
Number of start-ups in South Korea as of 2020, by business age
(in 1,000s)
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KISED. (February 16, 2023). Number of start-ups in South Korea as of 2020, by business age (in 1,000s) [Graph]. In Statista. Retrieved October 02, 2024, from https://www.statista.com/statistics/717996/south-korea-number-of-start-ups-by-business-age/
KISED. "Number of start-ups in South Korea as of 2020, by business age (in 1,000s)." Chart. February 16, 2023. Statista. Accessed October 02, 2024. https://www.statista.com/statistics/717996/south-korea-number-of-start-ups-by-business-age/
KISED. (2023). Number of start-ups in South Korea as of 2020, by business age (in 1,000s). Statista. Statista Inc.. Accessed: October 02, 2024. https://www.statista.com/statistics/717996/south-korea-number-of-start-ups-by-business-age/
KISED. "Number of Start-ups in South Korea as of 2020, by Business Age (in 1,000s)." Statista, Statista Inc., 16 Feb 2023, https://www.statista.com/statistics/717996/south-korea-number-of-start-ups-by-business-age/
KISED, Number of start-ups in South Korea as of 2020, by business age (in 1,000s) Statista, https://www.statista.com/statistics/717996/south-korea-number-of-start-ups-by-business-age/ (last visited October 02, 2024)
Number of start-ups in South Korea as of 2020, by business age (in 1,000s) [Graph], KISED, February 16, 2023. [Online]. Available: https://www.statista.com/statistics/717996/south-korea-number-of-start-ups-by-business-age/