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Small and medium enterprise promotion policy

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Frame of Image DI), J Former Senior Fellow
Advisory
Young-Woong Hong, Research Institute for Small and Medium Industries, Research Fellow
Research Management	 Supported by	
KDI School of Public Policy and Management 	 Ministry of Strategy and Finance (MOSF), Republic of Korea
Government Publications Registration Number 11-7003625-000041-01 ISBN 979-11-5545-060-4 94320 ISBN 979-11-5545-032-1 [SET 42] Copyright © 2013 by Ministry of Strategy and Finance, Republic of Korea
Government Publications Registration Number 11-7003625-000041-01
Knowledge Sharing Program
2012 Modularization of Korea’s Development Experience
Small and Medium Enterprise Promotion Policy
Preface
The study of Korea’s economic and social transformation offers a unique opportunity to better understand the factors that drive development. Within one generation, Korea has transformed itself from a poor agrarian society to a modern industrial nation, a feat never seen before. What makes Korea’s experience so unique is that its rapid economic development was relatively broad-based, meaning that the fruits of Korea’s rapid growth were shared by many. The challenge of course is unlocking the secrets behind Korea’s rapid and broad-based development, which can offer invaluable insights and lessons and knowledge that can be shared with the rest of the international community. Recognizing this, the Korean Ministry of Strategy and Finance (MOSF) and the Korea Development Institute (KDI) launched the Knowledge Sharing Program (KSP) in 20


Full Text
Title Small and medium enterprise promotion policy
Similar Titles
Project Category Development Cases
Material Type Reports
Author(English)

Park, Joon-kyung

Publisher

[서울]:KDI School of Public Policy and Management

Date 2013
Project Development Cases
Series Title; No Knowledge Sharing Program: KSP Modularization
ISBN 979-11-5545-060-4 94320; 979-11-5545-032-1 [SET 42]
Pages 122
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding KDI School of Public Policy and Management
Supervisor KDI School of Public Policy and Management
Organizer Small and Medium Business Administration(Republic of Korea)
Sponsor Ministry of Strategy and Finance(Republic of Korea)

Abstract

For almost four decades, the Korean economy had sustained high growth, which had been associated with rapid industrialization. There had been qualitative improvement in industrial structure, technological sophistication, and entrepreneurial capability. Many factors had contributed to sustained high growth: the abundant supply of a high quality labor force, relatively low wages, and vigorous private investment. A favorable world trade environment such as GATT-guaranteed free trade, unrestricted capital inflows, and technology transfers had also contributed to the expansion of the Korean economy. But it should be noted that such remarkable performance would not be possible without an outward-looking strategy effectively utilizing the latecomer’s advantage and industrial policies successfully managing the industrial transition. Facing difficult structural problems at each phase of the industrialization process, Korea had been successful in facilitating the industrial transition needed to sustain high growth. (The rest omitted)

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Government Publications Registration Number 11-7003625-000041-01

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