S. Korean biz startups rise 12 pct in 2009

SEOUL, Jan. 28 (Yonhap) -- The number of South Korean business start-ups rose by
the largest margin last year on optimism over an economic recovery, a business
association said Thursday.
The number of newly-established companies stood at 56,830 last year, compared
with 50,855 a year earlier, according to the Korea Federation of Small and Medium
Business.
The 2009 gain marked the largest annual increase since 2003, it said.
In December alone, the number of biz startups increased 15.7 percent to 5,424
from a month earlier, according to the association.
A set of economic data are fueling optimism that the Korean economy is emerging
from its worst downturn in more than a decade.
Asia's fourth-largest economy grew 0.2 percent on-quarter in the October-December
period on improving domestic demand and robust fiscal spending.
For the whole of 2009 the Korean economy managed to avoid a yearly contraction,
expanding 0.2 percent on increased fiscal spending and rate cuts.
sam@yna.co.kr
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