As of 2019, the number of domestic venture companies that exceeded 100 billion won in annual sales was 617, an increase of 30 from a year ago.
The Ministry of SMEs and Startups revealed that as a result of the ‘2020 Venture 100 Billion Companies Survey’ on the 25th, there were 62 new names listed as venture 100 billion companies in 2019, and 32 were excluded, with 617.
Among the total 100 billion venture companies, 13 were Naver, Coway, Yura Corporation, NCsoft, and Kakao, with annual sales exceeding 1 trillion won.
As a result of the mid-term analysis, it took an average of 17.5 years to achieve annual sales of 100 billion won after the establishment. The software development/IT-based service industry was the shortest at 11.7 years, and the medical and pharmaceutical industry had the longest at 25.0 years.
As of 2019, total sales of 100 billion venture companies were totaled at about 140 trillion won, an increase of 4.6% from the previous year. This ranks fourth in the domestic business world.
The number of employees in these companies increased by 2.7% to 232,000, ranking second in the domestic business world.
The export value of 100 billion venture companies increased by 8.0% to about 30 trillion won. It is equivalent to 5.0% of the total exports of Korea and 7.8% of the total exports of large enterprises.
In addition, it was found to be superior to large, medium-sized, and small and medium-sized companies in terms of financial and management performance such as growth, profitability, and stability. The net profit margin of sales was 5.9%, which was 1.9 times that of large companies (3.1%) and 2.7 times that of SMEs (2.2%).
The ratio of R&D to sales of 100 billion venture companies was 2.8%, higher than 1.7% for large companies and 0.7% for small and medium-sized companies. The average of the top five R&D-to-sales companies, including Telechips, Celltrion, Jusung Engineering, Silicon Mitus, and Eugene Tech, reached 27.8%.
“Venture 100 billion companies are playing a supporting role in the Korean economy in various aspects such as creation of new jobs and sales,” said Park Yong-soon, director of venture innovation policy. I will focus on making it.”