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What factors lead Korean SMEs to become global hidden champions

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Frame of Image is necessary to penetrate the global market aggressively in order to
What Factors Lead Korean SMEs to Become Global Hidden Champions?
become global hidden champions. Recently, the external conditions for globalization of Korean SMEs have changed positively. Thanks to the Free Trade Agreement with the US and EU, trade barriers have disappeared progressively, opening up new opportunities for penetrating global markets for Korean SMEs. However, numerous business activities of Korean SMEs have remained focused on the domestic market without utilizing the improved global business environment. The result is that the global status of Korean SMEs has not still improved even though the Korean government has assisted SME globalization through various supporting programs. The Korean government started to reform the assistance policy for the globalization of SMEs by placing emphasis on competitiveness to create better performances by the public assistance programs. Since the 2010s, as part of the reformed policy, the Korean government established assistance programs to nurture world-class SMEs, similar to Germany’s hidden champions. The policy recognizes that cultivating Korean global hidden champions is an effective way to settle the constraints of a small domestic market as well as the deformed export structure of Korean SMEs. Many public organizations have
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worked together to lead the strong and small


Full Text
Title What factors lead Korean SMEs to become global hidden champions
Similar Titles
Material Type Articles
Author(English)

Lee, Young-Joo

Publisher

[Seoul]:KIET

Date 2013-05
Journal Title; Vol./Issue KIET Industrial Economic Review:vol.18(no.3)
Pages 18
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Holding KIET; KDI School