Mon, 11 Dec 2023

S. Korea's number of businesses rises in 2022

25 Sep 2023, 15:30 GMT+10

SEOUL, Sept. 25 (Xinhua) -- South Korea's number of businesses rose last year due to the growth of transportation companies and beauty-relevant services businesses, statistical office data showed Monday.

The combined number of businesses was 6,141,263 at the end of 2022, up 1.0 percent from a year earlier, according to Statistics Korea.

The number of wholesalers and retailers declined 1.1 percent last year, but those for transportation companies and beauty-related businesses, including skin, hair and nail care businesses, expanded 4.4 percent and 2.1 percent each.

The eased measures against the COVID-19 pandemic boosted demand for beauty-relevant services last year.

The wholesale and retail sector posted the highest number of businesses with 1,518,854, trailed by the eatery and lodging sector with 864,335 and the transportation sector with 643,835.

The number of workers, hired by local businesses, went up 1.1 percent from a year earlier to 25,211,397 at the end of 2022.

The manufacturing industry hired the highest number of 4,279,063 employees, followed by the wholesale and retail sector with 3,590,493 and the healthcare and social welfare segment with 2,451,737.

The number of employees in the wholesale and retail and the construction industries reduced over 2 percent, while those in the eatery and lodging and the healthcare and social welfare sectors increased 5.5 percent and 4.0 percent respectively.

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