New business density — all countries

New business density — South Korea

New business density in South Korea in 2023 — 3.51 per 1,000. Ranked 56 in the world out of 140. Since 2006, the indicator has risen by 88.2%.

2023 3.51 per 1,000 −10.53% vs 2022
World rank 56of 140
Period maximum 4.31 per 1,0002021
Period minimum 1.87 per 1,0002006

Trend over time

2006–2023 · per 1,000 people aged 15–64

New business density — South Korea, 2006–20231234520062008201020122014201620182020202220232006: 1.87 per 1,0002007: 2.16 per 1,0002008: 2.14 per 1,0002009: 2.25 per 1,0002010: 2.32 per 1,0002011: 2.45 per 1,0002012: 2.65 per 1,0002013: 2.74 per 1,0002014: 3 per 1,0002015: 3.28 per 1,0002016: 3.35 per 1,0002017: 3.32 per 1,0002018: 3.46 per 1,0002019: 3.66 per 1,0002020: 4.1 per 1,0002021: 4.31 per 1,0002022: 3.93 per 1,0002023: 3.51 per 1,000
Change over the period: +1.65 (+88.18%) Average annual rate: 3.79 %

Comparison, 2023

How the value compares with the world and the groups this territory belongs to: South Korea

South Korea 3.51 per 1,000
World 6.12 per 1,000
East Asia & Pacific 13.34 per 1,000
Eastern Asia computed 18.21 per 1,000
New business density — South Korea, by year South Korea All countries CSV XLSX
Year per 1,000 Change Change, %
2023 3.51 −0.41 −10.53%
2022 3.93 −0.38 −8.87%
2021 4.31 +0.21 +5.07%
2020 4.1 +0.44 +11.92%
2019 3.66 +0.2 +5.81%
2018 3.46 +0.14 +4.23%
2017 3.32 −0.03 −0.79%
2016 3.35 +0.07 +2.06%
2015 3.28 +0.28 +9.33%
2014 3 +0.26 +9.4%
2013 2.74 +0.1 +3.61%
2012 2.65 +0.19 +7.92%
2011 2.45 +0.13 +5.6%
2010 2.32 +0.08 +3.39%
2009 2.25 +0.11 +5.08%
2008 2.14 −0.02 −1%
2007 2.16 +0.29 +15.71%
2006 1.87

Eastern Asia, 2023

The same indicator for neighboring countries — with links to their pages

About the indicator

The number of newly registered limited liability companies per 1,000 people of working age (15–64) over a year. It is an indicator of entrepreneurial activity and of the ease of entering a market. Only limited liability companies are counted, so in countries where sole proprietorships dominate the figure is understated.

Important: The aggregate is weighted by the population aged 15–64 — the same denominator that stands in the indicator. Only new limited liability companies are counted, so where other legal forms are common the value is understated.

Source: World Development Indicators (World Bank), license CC BY 4.0.