Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Trump picks ex-N. Korea policy official as his principal deputy national security adviser

    Trump picks ex-N. Korea policy official as his principal deputy national security adviser
  2. 2

    S. Korea not to attend Sado mine memorial: foreign ministry

    S. Korea not to attend Sado mine memorial: foreign ministry
  3. 3

    First snow to fall in Seoul on Wednesday

    First snow to fall in Seoul on Wednesday
  4. 4

    Man convicted after binge eating to avoid military service

    Man convicted after binge eating to avoid military service
  5. 5

    Wealthy parents ditch Korean passports to get kids into international school

    Wealthy parents ditch Korean passports to get kids into international school
  1. 6

    Toxins at 622 times legal limit found in kids' clothes from Chinese platforms

    Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
  2. 7

    [Weekender] Korea's traditional sauce culture gains global recognition

    [Weekender] Korea's traditional sauce culture gains global recognition
  3. 8

    BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'

    BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'
  4. 9

    Korea to hold own memorial for forced labor victims, boycotting Japan’s

    Korea to hold own memorial for forced labor victims, boycotting Japan’s
  5. 10

    Nvidia CEO signals Samsung’s imminent shipment of AI chips

    Nvidia CEO signals Samsung’s imminent shipment of AI chips
피터빈트

[Graphic News] Half of new businesses go bankrupt within 2 years

By Korea Herald

Published : Feb. 22, 2017 - 18:10

    • Link copied





Some 800,000 small businesses open shop annually, but about half of them go bankrupt within two years, statistics showed Monday.

A report said that among businesses that started in 2013, 62.4 percent were still in operation a year later. The rate fell to 47.5 percent after two, and further dipped to 38.8 percent in three years.

Lodging and restaurant businesses were among the quickest to shut down, only about one-third of them still being in place three years later. The rate isn‘t much better for wholesale and retail shops (35 percent), while manufacturing (49.8 percent) and transport (51 percent) were relatively better.



More from Headlines