[Photo] Only 3 out of 10 S. Korean startups survives after 5 years

Although the survival rate of South Korean startups continues to improve, only three out of every 10 startups goes out of business within five years. According to data released by Statistics Korea on Dec. 12, only 29.2% of startups that launched in 2012 were still operating in 2017. The five-year survival rate of South Korean startups was 27.3% in 2014, 27.5% in 2015, and 28.5% in 2016, so it is steadily improving. Startups in the areas of electricity, gas, and water showed the highest survival rate, with those in the areas of finance and insurance showed the lowest.