SEOUL, Oct. 28 (Korea Bizwire) – The Small and Medium Business Administration and the Korea Venture Business Association announced on October 27 that out of 130 Korean companies ranked No. 1 in the world in terms of market share 48.5 percent (63 firms) were start-up ventures as of the end of 2013. According to the data, the percentage of start-ups out of 187 companies ranked at the global top at least once for the past five years was 49.7 percent (93 firms).
By industrial sector, machinery, manufacturing, automotive (35.5%), computer, semiconductor, electronic components (18.3%), food and beverage, textile, and (non-ferrous) metals (17.2%) took the largest portion. The average number of years it took to take the world’s No. 1 position since founding was 14.6 years. Of these, the number of firms that made at the top within five years after establishment was 18 in the areas of software, medical equipment, and metal processing.
A Small and Medium Business Administration official said, “From the recent survey, it was clear Korea’s tech start-ups are leading the world with new technology. We will strengthen support for these firms by helping them move in emerging and niche markets while lending support to developing appropriate technologies for underdeveloped nation markets.”
By M.H. Lee (email@example.com)