No. of companies owned by people with disabilities up 43% since 2020

2024.04.01 11:07:01 | 2024.04.01 11:07:24

[Source: The Ministry of SMEs and Startups]이미지 확대

[Source: The Ministry of SMEs and Startups]

The Ministry of SMEs and Startups announced on Sunday that the number of businesses owned by people with disabilities in South Korea has surged by 42.8 percent to 165,000 as of 2022 compared to the previous survey conducted in 2020.

Disabled-owned businesses accounted for 2.6 percent of all small and medium-sized enterprises (SMEs) in the country, with a majority of 90.3 percent being micro-enterprises.

By industry, the retail sector led the way with 29.7 percent, followed by manufacturing (15.9 percent), and accommodation and food services (15.1 percent).

Among the disabled business owners, 66.8 percent had physical disabilities, 11 percent had visual impairments, and 7.5 percent had hearing impairments.

Data showed that 81.3 percent had mild disabilities.

The combined sales of these companies amounted to 75.1 trillion won in 2022, up 60.1 percent compared to the figures from two years ago, with operating profits reaching 7.6 trillion won, up 80 percent.

The average sales revenue per business stood at 460 million won, with an average operating profit of 46.28 million won.

The number of employees in these businesses reached 545,000, up 35.5 percent from 2020, out of which 176,000 were individuals with disabilities, up 45.5 percent.

On average, each disabled-owned business employed 3.3 individuals, with disabled employees comprising 1.1 of those positions.

In a recent survey, these companies cited funding (51.9 percent), sales and marketing (39.8 percent), and talent (28.7 percent) as critical factors affecting their business activities.

By Kim Dong-eun and Minu Kim

[ⓒ Pulse by Maeil Business Newspaper &, All rights reserved]