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New corporate registrations jump in April on eased rules

All Headlines 14:35 June 04, 2019

SEOUL, June 4 (Yonhap) -- The number of newly registered corporations in South Korea jumped 5.6 percent last month due to eased regulations, data showed Tuesday.

The number of new business entities came to 9,425 in April from 8,926 a year ago, marking the highest for any April since 2000 when related data began to be compiled, according to the Ministry of SMEs and Startups.

"The number of new corporate registrations began to increase in 2016 as the government eased the process of establishing a company and lifted the ban on the minimum capital required to start a business," Ko Keon-ho, deputy director of the statistics analysis division at the ministry, said by phone.

By sector, 22 percent of the registrations were in the wholesale and retail sector, followed by 18 percent in the manufacturing industry, 14 percent in real estate, the data showed.

In the January-April period, the corporate registrations increased 2 percent to 36,376 from 35,673 in the year-ago period, the ministry said.

New corporate registrations jump in April on eased rules - 1

kyongae.choi@yna.co.kr
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