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A Study on Women-Owned Businesses in Seoul Based on Statistical Analysis and Survey

Author: 
Bum-Sik KimㆍYoon-Hyi Jang

The purpose of this research is to analyze the current status and changing circumstances of women-owned businesses in Seoul. Key results derived from the analysis including a multitude of findings, including the fact that firstly, women-owned businesses in Seoul make up about 34.5% of all businesses in 2018. Secondly, employees of women-owned businesses in Seoul account for 20.4% of all employed individuals in the city of Seoul. Thirdly, in 2018, the number of female workers in proportion to the number of total workers within female-owned companies in Seoul was around 62.9%, which is 24.1% higher than that of female workers within male-owned companies. Fourthly, the most common organizational structure of women-owned businesses in Seoul is an individually-owned business. Fifthly, women-owned businesses in Seoul are concentrated within a comparatively smaller number of industries compared to men-owned businesses. Sixthly, as a result of analyzing the survival rate of women-owned companies, the survival rate for the start-up after the one-year mark was 92.1%, but the survival rate after the three-year mark fell sharply to 47.4%. Lastly, it was found that securing domestic sales channels, including market development, is the area within which most female-owned companies face difficulty when conducting business activities. Considering the results of the analysis, it is necessary to foster women’s enterprises which focus on high value-added industries, and which can eventually lead to further economic growth in the future. In this regard, the support policy for women-owned businesses needs to set innovation as one of the key policy focuses.