Sales 2,188 Trillion Won · 2.2% Increase... Workers 12.53 Million · 2.8% Increase
[Asia Economy Reporter Kwangho Lee] Last year, South Korea's service industry sales continued to grow, but the growth rate slowed somewhat due to the economic downturn.
According to the '2019 Service Industry Survey Results (Provisional)' announced by Statistics Korea on the 22nd, the number of service industry businesses last year was 2.977 million, an increase of 1.9% (55,000 businesses) compared to the previous year.
This figure is not only lower than the 2018 growth rate of 2.1%, but also below the average annual growth rate of 2.4% over the past 10 years.
The number of employees was 12.53 million, up 2.8% (344,000 people) from the previous year, and sales amounted to 2,188 trillion won, an increase of 2.2% (48 trillion won).
The number of businesses increased most in accommodation and food service (19,349), real estate (8,412), repair and personal services (6,292), professional, scientific, and technical services (5,330), and education (4,200).
Compared to the previous year, growth rates were seen in real estate (5.3%), professional, scientific, and technical services (5.2%), water supply, sewage, and waste management (5.1%), and information and communication (4.2%).
The number of employees increased most in health and social welfare (129,000), accommodation and food service (58,000), professional, scientific, and technical services (37,000), and wholesale and retail trade (35,000).
Sales increased most in health and social welfare (10 trillion won), accommodation and food service (8 trillion won), information and communication (7 trillion won), and professional, scientific, and technical services (6 trillion won).
Sales per business were 735 million won, an increase of 0.4% compared to one year earlier.
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