(MENAFN) Statistical office information revealed on Wednesday, December 9, that South Korea's recently founded firms reach the highest expansion in five years last year because of a spear in real estate firms.
According to Statistics Korea, it was the fastest growth since 2014The number of newly created firms, which employed regular staff and generated sales, reached 997,000 last year, increased 8.4 percent from the preceding year.
Of the total, the recently founded real estate firms accounted for 25.3 percent, or 252,000, last year. It augmented 7.5 percent from the preceding year.
It was followed by new firms in the wholesale and retail sector, which took up 20.3 percent of the total, and new companies in the lodging and eatery section that made up 16.7 percent in 2019.
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