SEOUL, May 26 (Korea Bizwire) – Starting a new business in South Korea requires an average 200 million won (US$178,491) in starting money, and it takes about four years to break even, a stage that more than 60 percent of the startups don’t reach because they are forced to close before then, a report said [...]
SEOUL, Feb. 8 (Korea Bizwire) – Last year was a good one for new businesses, with entrepreneurs establishing a record 96,155 new ventures for a year-over-year increase of 2.5 percent from 93,788 in 2015. According to the Small & Medium Business Administration, the annual number of new businesses has been rising since 2008, which recorded [...]
SUWON, Jun. 26 (Korea Bizwire) — Gyeonggi-do is planning to provide big-data based analysis on commercial areas for individuals or companies planning to open new businesses in the province. The Gyeonggi Provincial Assembly has pre-announced legislation for an ordinance to develop a system for the analysis, said the assembly on June 25. The system will [...]