Comparative Analysis of Business Demography Statistics between Korea and Europe
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1 Press Release Embargo & Release Date : 9:30 AM, February Economic Statistics Planning Division Contact Division Economic Statistics Bureau STATISTICS KOREA Contact Person Moon, Kwon soon ( ) Comparative Analysis of Business Demography Statistics between Korea and Europe
2 Statistics Korea (KOSTAT) and Eurostat have jointly prepared the Statistics in Focus report on Korea-EU Business Demography. KOSTAT and Eurostat have reached on MOU on bilateral cooperation in Since then, two sides have actively engaged in joint projects such as organizing international seminar and conducting comparative studies in the area of statistics. In 2012, a comparative study was conducted on key economic and social indicators of Korea and EU to help understanding of socioeconomic conditions in two regions. This year s focus was on comparing business demography statistics of Korea and EU to assess economic vibrancy in two regions. The preparation of this report was proposed by Eurostat as KOSTAT was the first in Asia to develop and release business demography statistics in Eurostat has been international leader in establishing and disseminating international standards on methodologies for business demography statistics to promote its production and ensure international comparability. Business demography statistics of Korea and 26 EU Member States for 2010 were compared, with greater focus on the 5 largest states of EU (Germany, Spain, France, Italy and United Kingdom). Enterprise birth rates for Germany and Spain were 8.7% and 7.8%, respectively and 15% for Korea, which was higher than Germany, Spain, France, Italy and United Kingdom. Similarly, enterprise death rate in Korea was 12.6% which was higher than Germany, Spain, France, Italy and United Kingdom. 11.8% in United Kingdom and 9% in Spain. 5-Year survival rate was higher among Germany, Spain, France, Italy and United Kingdom (France 51.4%, Italy 49.9%, Spain 45.7%) compared to Korea s 30.2%. Share of persons employed in new enterprises was 3.0% in Spain and 2.8% in France and Italy, while Korea had the highest share at 7.7% compared to Germany, Spain, France, Italy and United Kingdom. In particular, the highest share of persons employed in manufacturing was highest in Germany (compared to Spain, France, Italy and United Kingdom) at 32%. Italy and Korea both had the second highest share at 27%. The high rates of enterprise birth and death as well as low survival rate in Korea implies economic variability is greater in Korea compared to EU. The results of this comparative study on business demography statistics of Korea and EU is posted on KOSTAT and Eurostat homepages for free to support general users.
3 < Appendix 1 > Business Demography Key Figures: Korea vs. EU Country Enterprise Birth Rate Enterprise Death Rate Survival Rate (5 yrs) (As of 2010, Unit: %) Share of Persons Employed in: Manufacturing New Enterprises Korea, Rep. of Germany Spain France Italy United Kingdom Belgium Bulgaria Czech Republic Denmark Estonia Ireland Cyprus Latvia Lithuania Luxembourg Hungary Malta Netherlands Austria Poland Portugal Romania Slovenia Slovakia Finland Sweden Norway
4 Enterprise Birth & Death Rates Survival Rate (5 years) Share of Persons Employed in Manufacturing Share of Persons Employed in New Enterprises
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