{"version":1,"asset_type":"statistical_series","data_type":"time_series","slug":"kr-new-business-registrations","url":"https://apiardata.com/statistics/kr-new-business-registrations","html_url":"https://apiardata.com/statistics/kr-new-business-registrations/","title":"South Korea New Business Registrations (Number per Year) (2023)","description":"South Korea's New Business Registrations (Number per Year): 128,455 number of registrations in 2023, -11.0% YoY. World Bank (IC.BUS.NREG), 2006–2023.","domain":"markets","category":"Financial Markets","keywords":["Financial Markets","World Bank","South Korea","2023"],"publisher":"World Bank","frequency":"Annual","geography":"South Korea","temporal_coverage":"2006/2023","unit":"number of registrations","last_updated":"2026-07-25","last_updated_text":"25 July 2026","data_as_of":"2023","variable_measured":"South Korea New Business Registrations (Number per Year)","license":"https://apiardata.com/data-license","is_accessible_for_free":true,"sources":[{"name":"World Bank","url":"https://data.worldbank.org/indicator/IC.BUS.NREG?locations=KR"}],"meta":[{"label":"Frequency","value":"Annual"},{"label":"Coverage","value":"2006–2023"},{"label":"Observations","value":"18"},{"label":"Geography","value":"South Korea"},{"label":"Last updated","value":"25 July 2026"}],"kpis":[{"label":"South Korea (2023)","value":"128,455","unit":"number of registrations","trend":{"direction":"down","value":"-11.0% YoY"}},{"label":"YoY Change","value":"-11.0%","unit":"number of registrations"},{"label":"Trend","value":"down","unit":""},{"label":"Series length","value":"18","unit":"years of data"}],"series":[{"key":"value","label":"South Korea New Business Registrations (Number per Year)"}],"observation_count":18,"observations":[{"period":"2006","value":65016},{"period":"2007","value":75767},{"period":"2008","value":75797},{"period":"2009","value":80288},{"period":"2010","value":83626},{"period":"2011","value":89283},{"period":"2012","value":97196},{"period":"2013","value":101349},{"period":"2014","value":111627},{"period":"2015","value":122696},{"period":"2016","value":125717},{"period":"2017","value":124787},{"period":"2018","value":130139},{"period":"2019","value":137591},{"period":"2020","value":153217},{"period":"2021","value":159606},{"period":"2022","value":144286},{"period":"2023","value":128455}],"table":{"columns":[{"key":"year","label":"Year"},{"key":"value","label":"number of registrations"},{"key":"yoyChange","label":"YoY Change"}],"rows":[{"year":"2023","value":"128455.0","yoyChange":"-11.0%"},{"year":"2022","value":"144286.0","yoyChange":"-9.6%"},{"year":"2021","value":"159606.0","yoyChange":"+4.2%"},{"year":"2020","value":"153217.0","yoyChange":"+11.4%"},{"year":"2019","value":"137591.0","yoyChange":"+5.7%"},{"year":"2018","value":"130139.0","yoyChange":"+4.3%"},{"year":"2017","value":"124787.0","yoyChange":"-0.7%"},{"year":"2016","value":"125717.0","yoyChange":"+2.5%"},{"year":"2015","value":"122696.0","yoyChange":"+9.9%"},{"year":"2014","value":"111627.0","yoyChange":"+10.1%"},{"year":"2013","value":"101349.0","yoyChange":"+4.3%"},{"year":"2012","value":"97196.0","yoyChange":"+8.9%"},{"year":"2011","value":"89283.0","yoyChange":"+6.8%"},{"year":"2010","value":"83626.0","yoyChange":"+4.2%"},{"year":"2009","value":"80288.0","yoyChange":"+5.9%"},{"year":"2008","value":"75797.0","yoyChange":"unchanged"},{"year":"2007","value":"75767.0","yoyChange":"+16.5%"},{"year":"2006","value":"65016.0","yoyChange":"n/a"}]},"qa":[{"question":"What does this indicator measure?","answer":"This page tracks the number of new limited liability companies registered per year in South Korea from 2006 to present. New business registrations are the primary proxy for startup formation and entrepreneurial activity in the formal economy. It is published by World Bank and updated annually."},{"question":"How current is this data?","answer":"The most recent observation covers 2023. World Bank typically publishes this series with a lag of several months after the reference period. The series runs 2006–2023 (18 observations)."},{"question":"What is the long-term trend?","answer":"The series peaked at 159,606 number of registrations in 2021 and reached its lowest recorded value of 65,016 in 2006. The latest reading of 128,455 in 2023 represents a change of -15,831."}]}