The Number of New Corporations Reached over 100,000 in 2018 after Continuing the Uptrend for 10 Consecutive Years
- Division
- International Cooperation Division
- Date
- 2019.02.01
- Writer
- 박강범
- Headline
According to the new corporation trend announced by the Ministry of SMEs and Startups (MSS),
The number of newly established corporations in 2018 increased by 3.8% over the previous year to 102,042. It is worth paying attention to the fact that the number reached over 100,000 for the first time after continuing the uptrend for ten consecutive years since 2008.
The number of newly established corporations particularly in the wholesale and retail business and high value-added service industries (such as IT, science, and technology) was on the uptrend in 2018. In addition, there has been a huge increase in the number of corporations established by youth under age 39 compared to other age groups.
< The Major Characteristics of New Corporations in 2018>
(By Industry) The number of newly established corporations was 22,972 in wholesale and retail business (22.5%), 18,954 in manufacturing (18.6%), 10,145 in real estate industry (9.9%), and 10,069 in construction industry (9.9%).
Wholesale and retail business led mainly by e-commerce retail business saw a rise in the number of newly established corporations (↑3,509, ↑18.0%). In addition, high value-added industries, such as IT industry (↑957, ↑13.3%) and professional, scientific, technological services (↑305, ↑4.1%), also contributed to the increase in the number of newly established corporations.
Led by rubber and chemicals industry, the manufacturing industry saw a rise in the number of newly established corporations (↑288, ↑9.8%). On the contrary, along with a decrease of 529 in electrical, electronics, and precision machinery industries (↓11.6%) and of 174 in traditional textile industry (↓11.2%), the overall number of newly established corporations in manufacturing dropped by 1,675 (↓8.1%) compared to the previous year.
(By Age) New corporations was established respectively by those in their forties (35,342, 34.7%), in their fifties (27,052, 26.6%), and in their thirties (21,605, 21.2%).
Notably, there was a year-on-year increase of 1,916 (↑7.2%) in the number of new corporations established by youth under age 39 as follows: an increase of 1,008 in wholesale and retail business (↑14.3%), 364 in IT industry (↑13.7%), and 301 in professional, scientific, and technological service industry (↑13.4%).
(By Gender) The number of corporations established by women increased by 1,623 (↑6.7%) over the previous year to 25,899 while that of corporations by men increased by 2,089 (↑2.8%) to 76,143.
The corporations by women took up 25.4% of the newly established corporations in 2018, which marked a 0.7% increase compared to the previous year for the two consecutive years.
(By Region) The metropolitan area saw a rise in the number of new corporations as follows: an increase of 1,455 in Seoul (↑4.7%), 960 in Gyeonggi (↑3.9%), and 305 in Incheon (↑7.5%).
The number of new corporations established in the metropolitan area is 62,018 (60.8%), which marked a 0.5% increase compared to the previous year.
The number of newly established corporations in 2018 increased by 3.8% over the previous year to 102,042. It is worth paying attention to the fact that the number reached over 100,000 for the first time after continuing the uptrend for ten consecutive years since 2008.
The number of newly established corporations particularly in the wholesale and retail business and high value-added service industries (such as IT, science, and technology) was on the uptrend in 2018. In addition, there has been a huge increase in the number of corporations established by youth under age 39 compared to other age groups.
< The Major Characteristics of New Corporations in 2018>
(By Industry) The number of newly established corporations was 22,972 in wholesale and retail business (22.5%), 18,954 in manufacturing (18.6%), 10,145 in real estate industry (9.9%), and 10,069 in construction industry (9.9%).
Wholesale and retail business led mainly by e-commerce retail business saw a rise in the number of newly established corporations (↑3,509, ↑18.0%). In addition, high value-added industries, such as IT industry (↑957, ↑13.3%) and professional, scientific, technological services (↑305, ↑4.1%), also contributed to the increase in the number of newly established corporations.
Led by rubber and chemicals industry, the manufacturing industry saw a rise in the number of newly established corporations (↑288, ↑9.8%). On the contrary, along with a decrease of 529 in electrical, electronics, and precision machinery industries (↓11.6%) and of 174 in traditional textile industry (↓11.2%), the overall number of newly established corporations in manufacturing dropped by 1,675 (↓8.1%) compared to the previous year.
(By Age) New corporations was established respectively by those in their forties (35,342, 34.7%), in their fifties (27,052, 26.6%), and in their thirties (21,605, 21.2%).
Notably, there was a year-on-year increase of 1,916 (↑7.2%) in the number of new corporations established by youth under age 39 as follows: an increase of 1,008 in wholesale and retail business (↑14.3%), 364 in IT industry (↑13.7%), and 301 in professional, scientific, and technological service industry (↑13.4%).
(By Gender) The number of corporations established by women increased by 1,623 (↑6.7%) over the previous year to 25,899 while that of corporations by men increased by 2,089 (↑2.8%) to 76,143.
The corporations by women took up 25.4% of the newly established corporations in 2018, which marked a 0.7% increase compared to the previous year for the two consecutive years.
(By Region) The metropolitan area saw a rise in the number of new corporations as follows: an increase of 1,455 in Seoul (↑4.7%), 960 in Gyeonggi (↑3.9%), and 305 in Incheon (↑7.5%).
The number of new corporations established in the metropolitan area is 62,018 (60.8%), which marked a 0.5% increase compared to the previous year.