Tuesday, November 07, 2006

The gambling industry grew most in terms of businesses opening last year
while coffee shops turned out to be past their heyday. According to the
National Statistical Office (NSO), the number of gambling houses, including
casinos and video gambling game rooms, marked 1,186 last year, up 137
percent from a year earlier. Child education businesses, such as nursery
schools, also saw notable growth, with the number of the businesses marking
13,954, up 17.9 percent from the year 2004. The number of coffee shops and
confectioneries, however, decreased by 12.1 percent, and stationery stores
and hardware shops also saw around a 5 percent decrease. The number of total
businesses around the country recorded 3.2 million last year, up only 0.6
percent from 2004. The statistical office explained that the increase in
businesses slowed as small retailers and wholesalers, as well as restaurants
and lodgings, closed in the face of competition with larger corporations.
The number of big businesses employing at least 300 people also decreased
7.6 percent, recording the smallest number since 2000. ``Big businesses in
the manufacturing industry seem to have sought downsizing through
separation,'' explained Kim Hyun-jung, director of the industry statistics
division at the statistical office. There were 2,361 such big businesses in
the country as of last year. The number of small businesses employing four
people or less was 2.68 million, down 0.5 percent from the previous year.
One out of three businesses were led by women, but most of the businesswomen
were confined to a number of business categories. Beauty salon businesses
were dominated by women, with 91.9 percent being women-owned. Of arts
education facilities, 84.6 percent had female owners. The same was true for
74.2 percent of child education facilities. Confectioneries, pubs,
restaurants, and karaoke rooms also had a high ratio of female owners.

The statistics also showed that businesses are too concentrated in and
around Seoul. Nearly half, or 46.3 percent, were located in Seoul and its
vicinity. This is the highest rate since 1993 when this survey was
introduced.

Kangnam District and Socho District in southern Seoul were the locations
where the biggest number of businesses were headquartered, partly explaining
why real estate prices keep skyrocketing in these districts.