Announced ‘2020 Venture 100 Billion Companies Survey’ by the Ministry of SMEs and Startups
Total sales of 140 trillion won, ranked fourth in the business world… 232,000 employed
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As of 2019, there were 617 domestic venture companies with annual sales exceeding 100 billion won, an increase of 30 from the previous year.
On the 25th, the Ministry of SMEs and Startups announced the results of the ‘2020 Venture 100 Billion Companies Survey’ containing such content. ‘Venture 100 billion company’ means a company with annual sales of 100 billion won or more. Last year, 62 were newly listed as 100 billion venture companies, and 32 were excluded.
In addition, 13 out of 100 billion venture companies, including Naver, Coway, Yura Corporation, NCsoft, and Kakao, exceeded KRW 1 trillion in annual sales.
The Ministry of SMEs analyzed that “the average period of time to achieve annual sales of 100 billion won after start-up is 17.5 years on average.”
As of 2019, the total sales of 100 billion venture companies was estimated at KRW 140 trillion, up 4.6% from the previous year. This is the fourth-largest level 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. 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. In particular, the average of the top five companies in the R&D ratio to sales such as Telechips, Celltrion, Jusung Engineering, Silicon Miters, 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.”
/ Reporter Yeonseung [email protected]
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