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In 2022, the total revenue of small and medium-sized enterprises (SMEs) operating in the manufacturing industry in South Korea amounted to about 760 trillion South Korean won. Most of the revenue was generated from the domestic market.

Total revenue of small and medium-sized enterprises (SMEs) in the manufacturing sector in South Korea from 2018 to 2022 (in trillion South Korean won)

Characteristic	Revenue in trillion South Korean won
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Release date

February 2024

More information

Region

South Korea

Survey time period

2018 to 2022

Number of respondents

8,000 manufacturing SMEs*

Method of interview

Face-to-face interview, online survey

Supplementary notes

*After 2021, there has been a significant increase in the number of respondents in surveys compared to the previous year. This change is attributed to a new sampling frame. Consequently, the number of respondents rose significantly, making it impossible to directly compare these results with those from the previous year.

Small and medium-sized enterprises (SMEs) are for-profit businesses whose total assets do not exceed 500 billion South Korean won and which meet the criterion of independence (not a subsidiary of a large enterprise). Depending on the type of business, companies with average three-year sales of 40 billion South Korean won or less to 150 billion South Korean won or less are defined as SMEs.

1,000 South Korean won equals 0.76 U.S. dollars or 0.68 euros as of October 2024.

Figures have been rounded.

Total company counts per year are as follows:
2018: 138,222
2019: 139,943
2020: 139,894
2021: 169,134

Due to annual corrections and re-organizations, values prior to 2021 are of limited comparability.

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