Korean Small Businesses: Development, Current Situation and Priorities for the Future


by Jungdae Suh
Publication Date: October 2014
ISBN-13: 978-89-7641- 860-9
Hardcover: 224 pages
price : US$ 55.00 
Language: English



This book provides an overview of SMEs and SME policy of Korea. Looking at the context in which they operate, it outlines the past and the present of the SME sector in Korea. It also explores the current conditions and highlights the issues of SMEs in Korea, which stands at a crossroad, with challenges ahead.
It is high time that the government should come up with short- and long-term countermeasures to break out of the vicious cycle of low productivity and low performance of the SME sector. In particular, it is necessary to facilitate entrepreneurship and innovation of SMEs and of all stakeholders, which will lead to national economic growth and development. Supporting SMEs for their sake is not an objective of either economic policy or SME policy. A desirable SME policy means that it promotes enterprises so that they overcome their difficulties or shortcomings and helps them to become growth-oriented enterprises.


about author
Jungdae Suh is the president of Korea Institute for Enterprises and Economy. Formerly, the vice president at Korea Small Business Institute and the president at Korea Research Institute for Small and Medium Industries, Jungdae holds a PhD from Pennsylvania State University in Economics. Currently, he writes about SMEs, public policy, and economic development.