Promoting the Financing of SMEs and Start-ups in Korea [E-Book] / Randall Jones and Myungkyoo Kim
The Korean government has made fostering a "creative economy" a top priority. The goal is to shift Korea's economic paradigm to one based on innovation in which new start-ups and venture businesses play a key role. However, the venture capital market is still at an early stage of deve...
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Full text |
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Personal Name(s): | Jones, Randall. |
Kim, Myungkyoo. | |
Imprint: |
Paris :
OECD Publishing,
2014
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Physical Description: |
38 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/5jxx054bdlvh-en |
Series Title: |
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OECD Economics Department Working Papers ;
1162 |
Keywords: |
Industry and Services Economics Korea, Republic of |
The Korean government has made fostering a "creative economy" a top priority. The goal is to shift Korea's economic paradigm to one based on innovation in which new start-ups and venture businesses play a key role. However, the venture capital market is still at an early stage of development. To make venture investment a growth driver, it is important to expand the role of business angels, activate the merger-andacquisition market and foster entrepreneurship. A creative economy also depends on making SMEs, which account for 87% of employment, more dynamic. The productivity gap between large firms and SMEs, which benefit from a wide range of public support, is widening. SME policies should be streamlined and improved to promote market-based financing and reduce the negative effects of government funding programmes, which discourage the expansion of SMEs. |