No. of new companies in H1 at record high

[THE INVESTOR] The number of corporations established during the first half of the year came to a new half-year record, the Small and Medium Business Administration said on July 28.

According to the SMBA, 48,263 new companies were established during the first six months of the year, rising 4 percent from a year ago to set a new record. 

Retail and wholesale businesses were the most numerous at 11,168, accounting for 23.1 percent of the total, followed by manufacturing and construction businesses. According to the data, 8,971 manufacturing companies were newly established, while 5,342 construction companies were set up.

By the age of CEOs, those in their 40s accounted for the largest part followed by those in their 50s and 30s. About 37.2 percent of the new companies are headed by those in their 40s, 26 percent by those in their 50s and 21.9 percent by those in their 30s.

The new CEOs were predominantly men, accounting for about 76 percent, but the number of companies established by women rose 6.2 percent from a year ago to come in at 11,595, the SMBA said.

By Choi He-suk (cheesuk@heraldcorp.com)