South Korea's venture companies' sales rank second only to Samsung and others, proving their innovativeness

According to a survey on venture companies and social ventures released by the Ministry of Small and Medium Enterprises and Startups of Korea, the number of employees of venture companies will reach 935,000 by 2023, making it the largest number in Korea.
It was revealed that this was more than the 746,000 employees of the country's four largest corporate groups. The total sales of venture companies and social ventures was 242 trillion won (approximately 26,218 trillion won).
The number of venture companies was 40,081, up 14.1% from the previous year. The largest increase by industry was software development, at 12.8%.
The research and development (R&D) expenditures of venture companies as a percentage of sales was 4.6%, which was 2.6 times that of large companies.
The average sales of social venture companies in the three countries rose 2.2-fold to 6.54 billion won (US$66.2 billion). Meanwhile, the number of social venture companies increased 9.4% year-on-year to 2,679.
The average sales revenue was 3.08 billion won (approximately 330.18 million yen). An official from the Ministry of Small and Medium Enterprises and Startups said, "In this survey,
"Key indicators such as revenue and R&D have demonstrated the venture's innovativeness and growth potential."