Number of new companies rose near 10% in November

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Number of new companies rose near 10% in November

The number of new corporations set up in November 2017 rose nearly 10 percent year on year amid steady overseas demand for local products, government data showed Tuesday.

The number of new companies was 8,805, up 9.7 percent from the same month the previous year, according to data from the Ministry of SMEs and Startups.

Among the total, 1,831, or 20.8 percent, were in the manufacturing sector, followed by 1,610, or 18.3 percent, in wholesale and retail, the ministry said.

Another 9.3 percent of enterprises were related to real estate, and 8.7 percent were in the construction industry. Yonhap

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