Number of women entrepreneurs in Korea stands at 2.2 million


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A brochure for a nationwide business survey (Statistics Korea)

SEJONG – The number of women representing small and large companies in Korea has increased by 366,000 over the past five years, according to data as of December 28. In particular, they outnumbered male presidents in private education services and accommodation and food services.

According to Statistics Korea, the number of companies in the country stood at 6.01 million at the end of 2020. About 2.2 million, or 36.7%, had female presidents, involving CEOs in the case. conglomerates.

The proportion of women has increased slightly from 36.1% posted five years earlier in 2015. Although this is a slight increase, there are forecasts that 2 in 5 women will be women among all companies in the years to come.

Compared to five years earlier in 2015, the number of women presidents increased by 366,000, the state-funded agency said.

A notable proportion of women in terms of entrepreneurship was observed in the sector of private educational institutions, known locally as hagwon, of which 59.8% were headed by women, up from 5.3 percentage points compared to 2015.

Their share was 58.4% among accommodation and catering companies in 2020 and 47.3% among other forms of services and associations. Women presidents accounted for 41.7% in the wholesale and retail sector.

In the service sector, it is estimated that a large portion of women could also be posted to real estate agencies and bakeries, while Statistics Korea has not released their contact details.

Gender-based data in sectors such as information technology and manufacturing have also not been made public.

In terms of employees in companies, more than 2 in 5 employees were women – 10.4 million out of a total of 24.8 million last year.

The proportion of female employees increased by almost 1 percentage point over the corresponding five-year period to 42.1%, with the arithmetic number reaching 1.02 million.

Their share was quite high in the health and social protection sector at 81.2 percent, in private education services at 65 percent and accommodation and food services at 61.3 percent.

Meanwhile, the business tally increased by more than 900,000, from 5.1 million in 2015 to 6.01 million in 2020.

Gyeonggi Province tops the list with an increase of 312,000 companies, followed by Seoul with 127,000 and Incheon with 51,000. Next come South Gyeongsang Province with 47,000 and South Chungcheong Province with 46,000.

About 49.2% of companies were headquartered in the Greater Seoul area – Seoul, Gyeonggi Province and Incheon – last year, up from 48.4% in 2015.

Likewise, 52.3 percent, or 12.97 million, of total employees worked in the Seoul area, where their share increased 0.6 percentage points in five years.

By Kim Yon-se ([email protected])

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