In order for Korea to move on to the next level of economic value chain, Korean firms should build on the acquired strengths and momentum. SMEs as well as chaebols should take part in this transformation process. Korea has done well in such high-tech industries as memory chip, display, mobile handsets, and high-tech consumer electronics. Korea, however, needs to upgrade its industrial structure and venture into the higher-value added high-tech fields. The role of SMEs in the economic landscape of Korea and the issue of how to nurture them may need to be discussed in this context.
New start-up companies are called venture firms in Korea. This is rather ironic in that it sounds like venture capital suppliers in the Western sense, but the venture capital system is not well developed in Korea. Venture capitalism has been mostly regarded as a means for money making within the short time framework.
Note: The rest of the analysis won’t be shared due to the proprietary nature of the content.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment