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The characteristics of Korean global SME and policy implications

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Frame of Image  SMEs in the international
business research. For policy makers, global SMEs are expected to have large potential for growth and job creation in a competitive business environment. This is the reason that policy makers continually work to improve conditions for SMEs’ entering global markets. The ability to become global SMEs is dependent on resources and world class knowledge. For SMEs, entering new foreign markets signifies learning new practices and innovations as well as acquiring additional market share. Those are valuable assets for increasing their competitive advantage. That is why Korean SMEs are entering overseas markets in spite of their difficulties of globalization structurally. The growing interest in these SMEs has created a stream of research, although the understanding of them is still in its infancy. One weakness may be the lack of research on the characteristics of Korean global SMEs. A global SME can be defined as doing business in over two countries and those having foreign subsidiaries. International business theory states that firms expanding abroad should have strong ownership advantages if they are to successfully overcome their disadvantage, the called the liability of foreignness(LOF), in
host countries. Two perspectives are needed to highlight the characteristics of Korean global SMEs. First, what are their competitive advantages that have helped them to overcome their limitations of globalization? Second, what is the real LOF that structurally cons


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Title The characteristics of Korean global SME and policy implications
Similar Titles
Material Type Reports
Author(English)

Lee, Youngjoo

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2010
Journal Title; Vol./Issue KIET Industrial Economic Review(Current issues):vol. 15(no. 2)
Pages 18
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding KIET; KDI School

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