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Number of new companies rises 6.8% in second half

Aug 07,2018
The number of new corporations set up in Korea in the first half of the year rose 6.8 percent over 2017, led by the expansion of the wholesale and retail businesses, government data showed Monday.

The number of newly formed companies was 52,790 during the January-June period, compared with the 49,424 tallied a year earlier, according to data compiled by the Ministry of Small and Medium-sized Enterprises (SMEs) and Startups.

Among the total, 22.8 percent were in the wholesale and retail businesses, followed by 17.3 percent in the manufacturing sector. Another 10.7 percent were from the construction sector, while 9.4 percent were in real estate.