The number of Service Sector companies rose 1.8 percent to 2.62 ml in 2013

SEJONG (Yonhap) – As per government’s statistical office, the number of Service Sector companies in South Korea rose 1.8 percent in the year 2013 to 2.62 million. The service sector companies employed a combined 10.23 million people, up 4.7 percent that will help in fueling the economic growth. There are fewer firms in sports, arts, leisure and most of the business have been in publishing, waste disposal, recycling, medical and welfare services.  Most of the job growth was mostly in business facility investment, publishing and medical services.

As per the statistics there were around 151,000 franchise businesses in the year 2013, up 2.7 percent from 2012, employing around 511,000 people, a gain of 25.000 from the previous year. As per the Report data collected from approximately 200,000 businesses nationwide, excluding small time street vendors.

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