The Korea Accelerator Association has released the “2023 South Korea Accelerator Industry White Paper,” providing an in-depth analysis of the current landscape and future outlook of the country’s accelerator industry. The report reveals that as of December 2023, South Korea is home to 461 active accelerators, with a slight decrease of 7, totaling 74 new registrations in 2023 compared to the previous year. A total of 362 accelerators have collectively invested approximately KRW 2.77 trillion by 2023.

In 2023 alone, investment figures reached KRW 667.1 billion, marking a significant 28.5% decrease from the KRW 932.9 billion invested in the preceding year. The investment chill has also led to a reduction in the number of companies receiving investments, falling 11.2% to 1,631 in 2023 from 1,836 in 2022.

Furthermore, investment in startups less than three years old saw a substantial decline, with KRW 357.5 billion invested in 2023, down 38.5% from KRW 581.3 billion in 2022.

The Korea Accelerator Association has carried out this analysis based on public data, aiming to provide a comprehensive comparison and deeper insight into the investment activities of domestic accelerators.

Jeon Hwa-seong, the association’s chairman, emphasized the growing importance of accelerators in the startup ecosystem. He stated, “We plan to undertake various industry analyses to support the sector’s healthy growth.” He also expressed his hope that “the 2024, marking the inaugural year of the accelerator industry’s formal recognition, will be kickstarted by this Accelerator Industry White Paper.”