SEOUL, March 6 (Korea Bizwire) — The number of new corporations set up in January rose 24.5 percent on-year to surpass the 10,000 mark for the first time amid steady overseas demand for local products, government data showed Tuesday.
The number of new corporations set up came to 10,041, compared with 8,064 tallied the same month a year ago, according to the Ministry of Small and Medium-sized Enterprises (SMEs) and Startups.
Among the total, 22 percent were in the wholesale and retail businesses, followed by 18.5 percent in the manufacturing sector, the findings showed. Another 11.8 percent of the enterprises were set up in the construction industry, while 9.2 percent were related to real estate services.
Outbound shipments from Asia’s fourth-largest economy soared 15.8 percent to an all-time high of US$573.9 billion in 2017 thanks to booming global demand, according to separate government data.