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The Korea Herald
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THE INVESTOR
March 29, 2024

Economy

Number of new firms falls in 2015

  • PUBLISHED :December 23, 2016 - 17:32
  • UPDATED :December 23, 2016 - 17:33
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[THE INVESTOR] The number of newly established companies in South Korea nudged down last year, government data showed on Dec. 23.

Some 813,000 new businesses were established in 2015, down 30,000 from 843,000 tallied a year earlier, according to the data compiled by Statistics Korea.

They took up 14.6 percent of the 5.55 million “operational companies” doing business in South Korea last year, down from 15.2 percent in 2014.

The number of firms that closed in 2014 rose by 112,000 to 777,000, accounting for 14 percent of the operational companies that year.

Among the new companies, 24.9 percent were wholesalers and retailers, followed by accommodations and food service firms with 19.8 percent and real estate agencies with 19.7 percent.

(theinvestor@heraldcorp.com)

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