Statistics Korea and Gyeonggi-do Collaborate to Develop Small Business Management Activity Statistics

Development Initiatives to Support COVID-19 Recovery

[Sejong=Asia Economy Reporter Kim Hyunjung] On the 13th, Statistics Korea announced that it will collaborate with Gyeonggi-do to develop the 'Gyeonggi-do Small Business Management Activity Statistics' to support the recovery of the local economy. This is part of the implementation of the 'Memorandum of Understanding (MOU) for Safe Use and Cooperation of Data' signed between Statistics Korea and Gyeonggi-do on January 21, under which both organizations promised to develop statistics for the benefit of Gyeonggi residents and the advancement of provincial administration.

Accordingly, Statistics Korea and Gyeonggi-do recently agreed to produce statistics that can be used to understand the situation of small businesses in the province closely related to citizens' lives and to establish support policies, considering the impact of COVID-19.

In particular, these statistics will be produced by linking and analyzing the 'Business Register' held by Statistics Korea with Gyeonggi-do's commercial establishment information and public data, making it possible to utilize the results promptly within the year.

The Gyeonggi-do Small Business Statistics will provide key statistical tables necessary for provincial administration, such as the number of businesses by region, number of employees, sales per area, business openings and closures, average operating period, and survival rate, by linking business information from the Business Register with industries that are easy to start and have a high proportion of small-scale businesses with fewer than five employees, such as retail, dining, and service industries.

These statistics are expected to be produced annually after going through the national statistics approval process in the future.