According to a recent report Korea’s tech start-ups enjoyed positive growth in sales, operating profits and net profits alike in 2013, which will give President Park's government a boost as they conclude their first year in office, and a year that saw a surge in government involvement with the tech startup community in Korea.

According to the report startup's average sales amounted to 6.72 billion won last year, with their average operating and net profits estimated at 380 million won and 230 million won, respectively.

The “2013 tech start-up survey” which was conducted from May 20 to July 31, 2013 by the Korea Venture Business Association (KOVA) with the nation’s 28,135 start-ups, went on to disclose that the sales growth rate of the nation’s tech start-ups stood at 15.8 percent, higher than that of large companies (5.0 percent) and SMEs (5.3 percent).

The operating and net profit growth rate of the start-ups stood at 5.7 percent and 3.4 percent, respectively, higher than those of large and mid-sized companies. The number of employees at start-ups averaged at 24.7, up 4.7 percent from a year ago. The share of full-time employees averaged at 95.1 percent, indicating that start-ups made stable contribution to job creation in Korea.

Original post in Korea Economic Daily

Related Article List

‘COMEUP 2023’ Concludes with a Grand Finale, Establishing Itself as the leading Global Startup Event in South Korea Chowis Collaborates with L’Oréal Professionnel Paris in India to Revolutionize Hair Care Service CHOWIS to Develop Customized Cosmetics Diagnostic Platform in Partnership with Kolmar Korea Korean Craft Beer Maker GGeek Company Wins Gold at 2024 International Beer Cup Gadget Korea Showcases Superalink eSIM Platform at GITEX 2024 in Dubai, Transforming Global Data Roaming