April 26, 2024

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[THE INVESTOR] The number of South Korean start-ups with annual revenue of 100 billion won (US$87.9 million) or more surpassed 470 last year, data showed on July 21.

A total of 474 startups saw their annual revenues exceed 100 billion won last year, up 14 from the previous year, according to the data jointly released by the Small and Medium Business Administration and the Korea Venture Business Association. 

Korea`s main financial district in Yeouido, Seoul (Korea Herald file photo)

Whisky brand Golden Blue, toymaker Sonokong and LIS, a maker of laser equipment for semiconductors and displays, were among the new start-ups that achieved the revenue target last year, the data showed.

The combined revenue of the 474 start-ups stood at 101 trillion won last year. But their average revenue slightly fell to 212.9 billion won, from 215.1 billion won in the previous year.

Their average operating profit rose 10.3 percent on year to 16 billion won last year, according to the data.

(theinvestor@heraldcorp.com)