40 percent of new companies close doors within a year: report

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40 percent of new companies close doors within a year: report

Four 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.

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