The number of venture companies with annual sales exceeding 100 billion won was 633, up 16 from a year ago.
The total number of employees at these companies was 242,000, and the total sales amounted to 151 trillion won, ranking second and fourth in the business world, respectively.
The Ministry of SMEs and Startups announced on the 21st that as of the end of last year, as of the end of last year, the results of the ‘100 Billion Venture Business Survey’, which analyzed the employment, sales, and export status, R&D, and industrial property rights of 633 ‘100 billion venture companies’, revealed this result.
A venture company with 100 billion won in annual sales refers to a company with annual sales of 100 billion won or more among companies that have verified a venture at least once after the implementation of the ‘Venture Confirmation System’, which is certified as a venture company in 1998 and gives preferential benefits.
According to the Ministry of SMEs and Startups, as of the end of last year, there were 633 venture companies, an increase of 16 from 617 at the end of 2019. 62 companies achieved sales of 100 billion won for the first time this year. 46 companies dropped below 100 billion won in sales, and 16 companies saw a net increase.
The largest number of new entrants were in the textile and other manufacturing industries, including mask manufacturing companies, with 16 companies. The number of medical/pharmaceutical industries related to COVID-19 diagnosis increased by 11. Among the companies excluded, 14 were in the machinery, automobile and metal industries.
Among venture companies with 100 billion won in sales, 17 were Naver, Kakao, NCsoft, Celltrion, and Woowa Brothers. SD Biosensor (1.477 trillion won) and Seegene (1.686 trillion won), which produce COVID-19 diagnostic kits, joined the ‘1 trillion club’ for the first time.
The average business experience of a venture company with 100 billion won is 25.6 years, and the average time it takes to achieve 100 billion won in sales is 17.5 years on average.
At the end of last year, the number of workers was 242,000, an increase of 8,700 (3.7%) from a year earlier. That’s 388 people per company.
Comparing the number of employees at venture companies with 100 billion won compared to large companies, it ranks second in the business world after Samsung Group (261,000 people).
The venture company with the largest number of employees last year was Coway, an air purifier manufacturer, with an increase of 1,546, and Interpark, an e-commerce company, in second place with an increase of 1,125.
The total sales of venture companies with 100 billion won in sales increased by 15 trillion won from the previous year to 151 trillion won, ranking fourth in the business world after Samsung Group (254 trillion won), Hyundai Motor Group (179 trillion won), and SK Group (161 trillion won).
SD BioSense, the venture company with the largest increase in sales last year, increased by KRW 1.4 trillion compared to the previous year, and Seegene came in second place with an increase of KRW 971.4 billion.
In terms of sales growth, Dobu Mask, a mask manufacturer, took the first place with 3475%, and Noble Bio, a manufacturer of COVID-19 sample collection kits, ranked second with 3012%.
The amount of exports of 100 billion venture companies last year was about 33 trillion won, with an average of 67.4 billion won per company.
The industrial property rights held by these companies amounted to 66,140, or 11.9% of the total industrial property rights in Korea.
The ratio of R&D expenses to sales is 3.1%, which is higher than that of large enterprises (1.8%) and medium-sized enterprises (1.2%), and is about four times higher than that of small and medium-sized enterprises (0.8%).
An official from the Ministry of SMEs and Startups said, “Venture companies are creating a lot of jobs and are becoming the backbone of the Korean economy. said.