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In 2021, start-ups a year old or less made up the largest number of start-ups in South Korea, with around * out of a total of about *. Start-ups **** old or less accounted for approximately ** percent of the total.

South Korean Start-ups

Most South Korean start-ups were founded by individuals rather than corporations. Around ** percent of all Korean start-ups were started by individuals who were more likely to be men than women, most of whom had bachelor’s degrees. Corporation-founded start-ups were more profitable in general.

Founding a Start-up

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 percent of startup founders were in their *** and ***. Start-ups are not always successful, and around **** percent of the founders surveyed had founded a startup for the second time.