Based on the historical data from 2013 to 2023, the number of self-employed persons in business services in South Korea has shown slight fluctuations. From 3.43 million in 2013 to a peak of 3.55 million in 2017, the value settled at 3.50 million units in 2023. The year-on-year variations have been fairly minor, with slight percentage increases and decreases. Over the last two years, the values remained constant at 3.5 million in 2023, while the 5-year CAGR averaged at approximately -0.03% from 2018 to 2023.
The forecast from 2024 to 2028 expects a stable trend with minor declines, approximately to 3.49 million by 2025 and maintaining this level through 2028. The forecasted 5-year CAGR is -0.05%, indicating a minimal average annual decrease.
Future trends to watch for:
- Impact of emerging technologies on business services which might alter the need for self-employed persons.
- Policy changes or government interventions aimed at supporting small businesses and self-employment.
- Economic factors such as recessions or booms that influence entrepreneurial activities.
