SEOUL– Eight out of 10 businesspeople who established startup companies in South Korea think the local investment market for young businesses has weakened in 2022 from a year earlier, a poll showed Tuesday.
According to the survey from the annual “Startup Trend Report 2022” by Startup Alliance and Opensurvey, 82 percent of 200 startup founders answered they felt it was more difficult to attract investors this year than the previous year.
They attributed an economic slowdown, a series of rate hikes and the recent liquidity shortages to the contracted investment market.
As a result, 49 percent of them postponed or advanced their investment plans for this year, it added.
The survey also showed 77 percent of young entrepreneurs have a bleak outlook for next year.
Source: Yonhap News Agency