In 2023, the value of venture capital investments in South Korea amounted to approximately 5.4 trillion South Korean won, a decrease from about 6.8 trillion won in the previous year. Venture capital refers to financial resources provided by investors to startups and venture businesses with strong growth potential. The volume of venture capital investments in South Korea has increased more than threefold over the past ten years. The information and communications technology (ICT) sector received the highest amount of venture capital, followed by the distribution and service sectors.
Startups in South Korea
Backed by strong venture capital funding and government financing programs, the South Korean startup landscape has grown tremendously over the last few years. The number of new companies has almost doubled in the past two decades, while venture businesses, which are mostly technology-intensive small and medium-sized enterprises (SMEs), have more than tripled within the last 15 years. The number of South Korean startups valued at more than one billion U.S. dollars - the so-called unicorns - has also increased from just three in 2017 to 23 in 2023.
The success of big South Korean startups
Some South Korean startups, such as e-commerce giant Coupang, have grown into big players. The company quickly became one of the leading online retailers, with sales revenue jumping more than 400-fold since its founding in 2010. Coupang’s online services, such as 'rocket delivery,' which promises delivery within 24 hours, have enjoyed great popularity, especially following the outbreak of the COVID-19 pandemic.
Value of new venture capital investments in South Korea from 2011 to 2023
(in trillion South Korean won)
The figures only include investments made in startups and venture businesses by South Korean venture capital firms and venture investment associations registered with the South Korean Ministry of SMEs and Startups.Â
1,000 South Korean won equals 0.75 U.S. dollars or 0.69 euros as of February 2024.Â
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Statistics Korea. (February 14, 2024). Value of new venture capital investments in South Korea from 2011 to 2023 (in trillion South Korean won) [Graph]. In Statista. Retrieved September 20, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/878780/south-korea-new-venture-capital-investments/
Statistics Korea. "Value of new venture capital investments in South Korea from 2011 to 2023 (in trillion South Korean won)." Chart. February 14, 2024. Statista. Accessed September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/878780/south-korea-new-venture-capital-investments/
Statistics Korea. (2024). Value of new venture capital investments in South Korea from 2011 to 2023 (in trillion South Korean won). Statista. Statista Inc.. Accessed: September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/878780/south-korea-new-venture-capital-investments/
Statistics Korea. "Value of New Venture Capital Investments in South Korea from 2011 to 2023 (in Trillion South Korean Won)." Statista, Statista Inc., 14 Feb 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/878780/south-korea-new-venture-capital-investments/
Statistics Korea, Value of new venture capital investments in South Korea from 2011 to 2023 (in trillion South Korean won) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/878780/south-korea-new-venture-capital-investments/ (last visited September 20, 2024)
Value of new venture capital investments in South Korea from 2011 to 2023 (in trillion South Korean won) [Graph], Statistics Korea, February 14, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/878780/south-korea-new-venture-capital-investments/