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Lessons form the Korean venture industry development

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Frame of Image  The development of Korean venture sector was not just an outcome of the government’s policy to bring up venture business. Rather it was the result of the restructuring efforts from the whole Korean economy sector that tried to survive throughout the 90’. On the other hand, the increasing importance of the venture firms in Korean economy is the output of the continuous accumulation of technology and restructuring throughout the whole economy development. Highly concentrated investment in fostering the venture industry in the 1990’s by the government was one of the key factors. But the continuous investment of Korean society in education and technology development during the past 30 years was another key factor that accelerated the growth of startup firms and their development. Also going through the restructuring after Asian foreign currency crisis, risk capital market that can invest funds in high risk/high return projects was established and the market practice now calls for the transparency and the efficiency. These can explain the overall background for the development of the venture sector in Korea. We’ll now look more deeply into the background of the venture boom in Korean market.
1. Industry Restructuring
The birth and the development of Korean venture sector should be understood in the terms of industry restructuring. In another word, the rising of venture firms was the natural outcome from the Korean economy restructuring that started from 1980’s. In the 70’s and 80


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Title Lessons form the Korean venture industry development
Similar Titles
Material Type Reports
Author(English)

Chung, Hoe Hoon

Publisher

[Washington D.C.]:World Bank

Date 2005
Pages 33
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding World Bank; KDI School