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The status of SME structural changes and policy tasks

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Frame of Image l industries in the 1970s. Particularly since 2000, the economy has improved its innovative capacity, thereby transforming its focus on knowledge and technology-intensive industries. In the case of SMEs, in response to the trend of increasing industrial upgrading in the Korean economy, the structure has been promoted from labor-intensive industry to technology and capital-intensive industry. In the upgrade process, SMEs perform dual functions of a leader role and a latecomer. In order to maintain steady economic growth, SMEs should play a leading role in industrial structure upgrading. Although SMEs’ R&D investment has increased
since the 2000s, in recent years there has been a socalled ‘Innovation Paradox’ phenomenon in which SMEs’ value-added productivity growth is negative ( - ). This paper first examines the structural changes in SMEs, delving into industrial structure, market structure (sales structure), financial structure, technological innovation structure, productivity structure, and export structure separately. Secondly, the characteristics of the SMEs are analyzed and the policy implications for SMEs to play a leading role in the industrial adjustment process are presented. 2. The Structural Change Analysis of SMEs
(1) Changes in Industrial Structure
Table 1 shows the changes in the structure of small and medium-sized manufacturing industries in 2004~2014 based on the value-added standard. The proportion of labor-intensive industry such as textiles, clothing and fu


Full Text
Title The status of SME structural changes and policy tasks
Similar Titles
Material Type Reports
Author(English)

Yang, Hyun-bong

Publisher

Sejong, Korea : Korea Institute for Industrial Economics and Trade

Date 2017
Pages 9
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Others
Holding Korea Institute for Industrial Economics and Trade
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