South Korea's unicorns continue to decline, with no more expected by 2024 - South Korea

According to a unicorn survey by Pitchtrack, a bay research firm, there are 1,417 unicorns operating worldwide.
The term unicorn refers to a company that is valued at more than $100,000 (USD).
According to the survey, there are 729 unicorns operating in the United States, accounting for 51.4% of the total. This is followed by 313 in China, 61 in India, and 48 in the UK.
In the period from January to November 2024, 110 unicorn companies were born worldwide, of which 63 were in the United States alone.
The number of unicorn companies in South Korea was seven in 2021 and 2022, but continued to decline to four in 2023 and two in 2024.
By November, not a single company had been born. Due to the economic downturn caused by martial law and impeachment, venture capitalists and others are pessimistic about the economic situation in 2025.
Han Sang-yop, CEO of VC firm Seopoong Ventures, predicted, "There will be no more unicorn companies born in Korea this year."
"The government should focus on investing in promising areas and develop specific markets," said Ahn Dong-hyun, a professor of economics at Seoul National University.
We need to continue to do so."