SEOUL, April 13 (Korea Bizwire) — Last year, the employment rate among young South Koreans dropped while the number of startups increased.
The Ministry of SMEs and Startups and Statistics Korea reported that the number of startups with founders under the age of 30 reached 152,000 last year, rising by 18.7 percent from the previous year.
It is the largest jump seen from all age groups, doubling from 2019 (7.3 percent).
Sorted by age, startups with founders over the age of 60 jumped 7.8 percent in number, and those with founders in their 30s jumped by 3.5 percent. Startups with founders in their 40s and 50s, however, dropped by 1.7 percent and 2.3 percent, respectively.
Last year, only 3.76 million South Koreans under 30 years of age were newly employed, dropping by 4.6 percent from the previous year. It was the largest plunge seen throughout all age groups.
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