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New growth strategy of Korean companies

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  • New growth strategy of Korean companies
  • Shin, Hyung-Won
  • Samsung Eonomic Research Institute


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Title New growth strategy of Korean companies
Similar Titles
Material Type Reports
Author(English)

Shin, Hyung-Won

Publisher

[Seoul]:Samsung Eonomic Research Institute

Date 2010-02
Series Title; No Issue Report / 02-10
Pages 19
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Entrepreneurship
Holding SERI

Abstract

Korean companies lost their growth momentum after the 1997-98 Asian currency crisis, and the need to seek a growth strategy. Their sales growth rate decreased from 9.0% between 1987 and 1996 to 4.6% between 1997 and 2007. What’s sobering is that once growth stagnates, it is easy to stay in that way. Among the companies that experienced stagnation in the previous year, 59% stagnated in the next year, and after two years of stagnation, 68% of companies stagnated. This “swamp of stagnation” threatens the survival of companies. If companies stagnate for four straight years, the possibility of their exit from the market rises to 40% among domestic companies and 14% among foreign companies. This study analyzes the growth strategy of global leading companies and proposes ways for continuous growth of Korean companies. The study finds paradigm changes for corporate growth by examining 50 leading companies in industry groups. (The rest omitted)