A start-up or new company here refers to a for-profit business (including individual and corporate businesses) that has completed business registration with the National Tax Service. The figures also include the conversion of a sole proprietorship into a corporation, the merger or demerger of an existing business, and the resumption of the same company after closure.
In 2024, approximately ** new companies were founded in the wholesale and retail trade sector, making it the most prominent industry for startups in South Korea. The accommodation and food services sectors followed with almost ** new startups established.
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Ministry of SMEs and Startups. (June 23, 2025). Number of new companies in South Korea in 2024, by business sector (in 1,000s) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 02, 2026, from /statistics/718097/south-korea-number-of-start-ups-by-business-area/
Ministry of SMEs and Startups. "Number of new companies in South Korea in 2024, by business sector (in 1,000s)." Chart. June 23, 2025. ÌÇÐÄÆƽâ°æ. Accessed August 02, 2026. /statistics/718097/south-korea-number-of-start-ups-by-business-area/
Ministry of SMEs and Startups. (2025). Number of new companies in South Korea in 2024, by business sector (in 1,000s). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 02, 2026. /statistics/718097/south-korea-number-of-start-ups-by-business-area/
Ministry of SMEs and Startups. "Number of New Companies in South Korea in 2024, by Business Sector (in 1,000s)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 23 Jun 2025, /statistics/718097/south-korea-number-of-start-ups-by-business-area/
Ministry of SMEs and Startups, Number of new companies in South Korea in 2024, by business sector (in 1,000s) ÌÇÐÄÆƽâ°æ, /statistics/718097/south-korea-number-of-start-ups-by-business-area/ (last visited August 02, 2026)
Number of new companies in South Korea in 2024, by business sector (in 1,000s) [Graph], Ministry of SMEs and Startups, June 23, 2025. [Online]. Available: /statistics/718097/south-korea-number-of-start-ups-by-business-area/
