Announcement of the results of ‘2020 Venture 100 Billion Companies Survey’
62 new locations, a total of 617 companies… Total sales 140 trillion
[세종=뉴스핌] Reporter Jeong Seong-hun = As of 2019, the number of’venture 100 billion won’ exceeded 600 companies. The total sales of these companies is 140 trillion won, ranking fourth in the business world.
The Ministry of SMEs and Startups announced on the 25th the results of the 2020 Venture 100 Billion Companies Survey, which analyzed sales, export status, employment, technology development (R&D) and industrial property rights of 617 venture companies as of the end of 2019.
First of all, as of the end of 2019, there were 617 venture companies, an increase of 30 from the previous year (587). 62 companies newly entered the company with sales of 100 billion won for the first time, and 32 companies excluded from venture 100 billion won.
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Among the 100 billion venture companies, the number of companies with sales of more than 1 trillion won increased from 11 companies in the previous year to 13 companies. By sales segment, sales accounted for most of 100 billion to 200 billion won, accounting for 67.4% (416 companies).
The average period of time to achieve sales of 100 billion won was 17 years and 6 months, and the average period for software development and IT-based service sectors was 11.7 years, the shortest, and medical and pharmaceuticals, the longest at 25 years.
In 2019, the total sales of 100 billion venture companies was about 140 trillion won, an increase of 6,182.4 billion won (4.6%) from the previous year. Compared to conglomerates, it ranks fourth in the business world after SK.
Venture 100 billion companies were found to be superior to large, mid-sized, and small and medium-sized companies in terms of financial and management performance such as growth, profitability, and stability. The net 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 average sales of these companies fell slightly (0.4%) compared to last year, but large and medium-sized companies also fell 7.2% and 5.8% compared to the previous year.
The total number of employees of 100 billion venture companies in 2019 was 232,000, an increase of 6075 (2.7%) compared to the previous year, ranking second in the business world. The average number of employees per company was 382, down 2.3% from the previous year.
Exports of 100 billion venture companies in 2019 accounted for 5.0% of Korea’s total exports and 7.8% of the total exports of large companies. The number of enterprises was 494 (81.5%), an increase of about 7.9% (36) compared to the previous year. Total exports increased by about 8.0% (2,2346 billion won) to 30 trillion won.
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The ratio of R&D to sales of 100 billion venture companies in 2019 was 2.8%, higher than 1.7% for large companies and 0.7% for SMEs. R&D amount (6.2 billion → 6.4 billion won) and R&D ratio (2.7% → 2.8%) increased slightly from the previous year. In particular, in the case of the top five companies in the R&D ratio of 100 billion venture companies, the average ratio is about 27.8%, indicating that more than a quarter of the sales are investing in R&D.
In 2019, 100 billion venture companies had a total of 63,119 industrial property rights. It was an average of 102.3 cases per company, an increase of 3.4% from the previous year. 63,119 industrial property rights owned by 100 billion venture companies account for 23.1% of 275,725 domestic industrial property rights.
In 2019, 40.3% (244) of 100 billion venture companies received venture investment from their start-up to the current year. The total investment amount of the invested companies was about 1.9 trillion won.
Park Yong-soon, Director of Venture Innovation Policy at the Mid-term Ministry of Strategy and Finance, said, “We have confirmed that 100 billion venture companies are playing a supporting role in Korea’s economy in various aspects such as creation of new jobs and sales, and they are leading innovative growth through continuous research and development.” And the introduction of an advanced venture investment system, etc., startups will focus on creating a startup venture ecosystem that can grow into a 100 billion venture company, a unicorn company, etc.”