The number of small and medium-sized enterprises in Korea was found to be 8,298,915 as of 2023, an increase of 3.2% compared to the previous year. In contrast, revenue decreased by 0.2% to 3,301 trillion won.
The Ministry of Small and Medium Enterprises and Startups announced the results of the 2023 basic statistics on small and medium enterprises on the 29th.
As of 2023, the number of domestic small and medium-sized enterprises accounted for 99.9% of all corporations, 80.4% of the workforce, and 44.9% of revenue.
The number of small and medium-sized enterprises rose by 56,189 (3.2%) compared to 2022, reaching 8,298,915. During the same period, the workforce also increased by 161,355 (0.9%) to 19,117,649. However, revenue decreased by 7.746 trillion won (0.2%) to 3,301 trillion won.
Looking more closely at the details, the number of corporations by industry increased in the retail and wholesale sector (101,485, 4.8%), electric, gas, and steam industries (24,454, 17%), information and communication industry (23,639, 12.2%), and professional, scientific, and technical services (22,964, 7.4%). However, the manufacturing sector (16,670, 2.6%) and mining industry (79, 3.2%) saw a decline.
The number of workers by industry increased in 11 sectors, including retail and wholesale (86,848, 2.3%) and accommodation and food services (45,309, 2.5%), while 7 sectors, including transportation and warehousing (52,911, 4.6%) and manufacturing (16,822, 0.5%), experienced declines.
By industry, revenue increased in 11 sectors, including accommodation and food services (14.4 trillion won, 8.7%) and finance and insurance (6.2 trillion won, 17.9%), while 7 sectors, including manufacturing (16 trillion won, 1.9%) and retail and wholesale (15 trillion won, 1.3%), saw decreases.
Regionally, the number of corporations in the Seoul, Gyeonggi, and Incheon areas increased by 155,400 (3.7%) to 4,362,179, while non-capital regions increased by 100,789 (2.6%) to 3,936,736, indicating a relatively higher growth rate of corporations in the capital region.
In terms of organizational form, individual enterprises increased by 219,046 (3.1%) to 7,243,536, while corporate enterprises rose by 37,143 (3.6%) to 1,055,379. By size of workforce, single-person businesses grew by 290,672 (4.7%) to 644,269, while businesses with 2 or more employees decreased by 34,483 (1.8%) to 1,858,646.