40 percent of new companies close doors within a year: reportFour out of 10 newly-opened domestic companies closed doors within a year in 2014, according to a report on companies’ birth and death of 2014 released by Statistics Korea on Wednesday.
While the number of new firms increased by 12.6 percent last year to 843,000, only 60.1 percent made it through its first year of operation while even less, 29 percent, survived after five years.
More in Industry
Shake Shack discovers gochujang
Celltrion plans merger, holding company transition
Soaring iron ore prices batter Korea's steelmakers
BTS among performers at Lotte Duty Free 40th anniversary concert