[Monitor] 1 in 5 new businesses opened by young entrepreneurs

By Korea Herald
  • Published : Sept 28, 2017 - 17:01
  • Updated : Sept 28, 2017 - 17:01

One in 5 new businesses that opened last year were owned by young people (classified as those in their late teens, 20s, 30s), data by the National Tax Service showed.

The most preferred establishments were mail-order businesses, restaurants and commodities brokerages.

A majority, or 56.7 percent, of the young and new business owners were men. But there were more women among new business owners aged 20 and 21.

By sustainability, manufacturing businesses had the longest rate of 40.7 percent, followed by health-related (40.3 percent), construction (35.4 percent) and wholesale (32.6 percent) businesses. Restaurants showed the lowest sustainability of 15.5 percent.