One-person creative enterprises are defined as self-employed individuals or partnerships of fewer than five members who operate businesses without permanent employees. (Image courtesy of Pixabay)
SEOUL, Mar. 29 (Korea Bizwire) – The number of one-person creative enterprises in South Korea reached 987,812 in 2021, a 7.7 percent increase from the previous year, the Ministry of SMEs and Startups announced on March 28. This growth rate outpaced the 5.8 percent increase in the total number of new businesses during the same period.
One-person creative enterprises are defined as self-employed individuals or partnerships of fewer than five members who operate businesses without permanent employees. These businesses must demonstrate creativity and expertise, although 32 sectors, including real estate, are excluded from this classification.
The manufacturing sector accounted for the largest share at 26.2 percent, followed by e-commerce (21.2 percent), education services (16.7 percent), and professional, scientific, and technical services (11.5 percent).
Geographically, 57.2 percent of these enterprises were concentrated in the Seoul metropolitan area, with 28 percent in Gyeonggi Province, 24 percent in Seoul, and 5.3 percent in Incheon.
The average lifespan of these enterprises was approximately 12 years, with 35.5 percent established before 2010. In 2021, their average annual revenue stood at 298 million won, exceeding the average for all new businesses at 244 million won.
In terms of the founders’ demographics, those in their 50s represented the largest group at 30.8 percent, followed by those in their 40s at 28.2 percent. Only 0.7 percent were in their 20s, while 3.8 percent were 70 or older.
Before starting their businesses, 49.6 percent of the founders had worked at small and medium-sized enterprises, while 15 percent were unemployed and preparing for entrepreneurship, and 9.3 percent were freelancers.
Kevin Lee (kevinlee@koreabizwire.com)
