Data released by the South Korean customs authority showed that the number of trading companies decreased by 0.7% year-on-year in 2022 amid economic uncertainty that hampered business activities.
According to data reported by the Korean Yonhap news agency, the number of trading companies in South Korea reached 251,246 last year, a decrease of 1,812 from 2021.
The number of new companies in the commercial market also decreased by 12% year-on-year to 59,173, with 60,985 companies exiting the market, an increase of 6.6% from the previous year.
The data showed that the trade volume of commercial companies jumped to a record level of 132 billion dollars, an increase of 10.8% during this period.
The number of exporting companies increased by 0.4% year-on-year to 95,984 while the number of importing companies decreased by 1.6% to 208,834.
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