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1
Kim, Jasper. "A socio-legal corporate governance model: Analyzing South Korea’s social enterprise promotion act using public-private partnerships." Corporate Ownership and Control 12, no. 3 (2015): 357–70. http://dx.doi.org/10.22495/cocv12i3c3p7.
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Can South Korea reregulate and reconstitute its current conglomerate-based, export-dependent “Korea, Inc.” model towards a more socio-legal corporate governance model more inclusive of socio-economic stakeholder equality concerns? By enacting the Social Enterprise Promotion Act (SEPA), a law expressly aimed at boosting domestic social enterprises through public-private partnerships (PPPs), South Korea became one of the few if only economies in the world to pass a social enterprise law at the national level (rather than at a state or governnment agency level, as in the US or UK). Historically, South Korea’s greatest economic strength in the post-1945 period was its ability to create a significant manufacturing and export sector dominated by large conglomerates (referred to as “chaebol,” such as Samsung, LG, and Hyundai) that still dominates the economic landscape today—creating “Korea, Inc.” Such corporate governance model allowed South Korea to become an economic success story based on its achievements in the twentieth century, at the risk of being highly export-dependent. However, South Korea has recently put forth regulatory efforts towards creating a new economic path based less on manufacturing and exports by large chaebol (the “Korea, Inc.” model) and greater focus on smaller-size social enterprises that can provide economic growth while also achieving certain socio-economic objectives, including furthering “economic democratization” and socio-economic inclusion by uniquely utilizing PPPs. As such, the nation’s policymakers enacted the Social Enterprise Promotion Act (SEPA). The main objective of SEPA was to provide a regulatory framework for the establishment, funding and regulation of social enterprises. This article provides a regulatory and socio-economic corporate governance perspective regarding SEPA, which includes policy arguments related to the benefits and barriers of the act, in addition to survey results from respondents in South Korea related to social enterprises and similar entities. If successful, SEPA would ideally foster a more sustainable twenty-first century South Korean economic ecosystem, based less on export-dependence, and more on incentive-taking and innovation, while improving the nation’s overall socio-economic conditions by utilizing a unique socio-legal corporate governance model within Asia’s fourth largest economy
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Kim, Gyun, and Seok-Hyeon Choi. "Accreditation System for Social Enterprise and Business Strategies of Social Enterprises in South Korea." Institute of Management and Economy Research 11, no. 1 (2020): 93–114. http://dx.doi.org/10.32599/apjb.11.1.202003.93.
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Yoon Hojung and Kim, Yae-gi. "Business Analysis of Korea sports industry enterprises Using Financial Statements." Korean Journal of Sport Science 27, no. 1 (2016): 102–20. http://dx.doi.org/10.24985/kjss.2016.27.1.102.
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Choi, Tae-Hee, and Chiaki Nakano. "Ethics in Japan and South Korea, pertaining to business enterprises." Human Systems Management 37, no. 1 (2018): 129–49. http://dx.doi.org/10.3233/hsm-17106.
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Lim, Daehyeon, Youngsu Moon, Kanghoe Kim, and Hoshin Lee. "A Methodology for Searching and Allocating Enterprises in the Supply Chain by Using the Business Information Database and Trademark Rights Database." Science, Technology and Society 22, no. 3 (2017): 524–38. http://dx.doi.org/10.1177/0971721817724317.
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As a number of support programmes for competence improvement are provided to small and medium enterprises (SMEs) in Korea, it is recommended that these enterprises collaborate with each other. However, without information about other enterprises in the industry that they belong to or are planning to enter, many SMEs f ind it diff icult to look for partners that they can collaborate with. This article focuses on extracting a list of enterprises in a supply chain of a specif ic industry through a business information database and a Korean trademark rights database. Also, it focuses on suggesting a methodology that would show a list of actual deals made between enterprises found through a business deal database. Through these, it becomes possible for SMEs to have knowledge about other enterprises and their previous deals in a supply chain or a system of a specif ic industry. SMEs will thus be able to build a suitable business plan based on such information. Moreover, this article will be helpful for policymakers as it will help them understand the system and characteristics of the industry and come up with a suitable programme for the industry that can support SMEs.
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Thai, Hong-Danh, and Jun-Ho Huh. "Building an Operational Solution Assistant System for Foreign SMEs in ROK." Applied Sciences 11, no. 10 (2021): 4510. http://dx.doi.org/10.3390/app11104510.
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Foreign Direct Investment (FDI) is an important resource that helps accelerate the development of the country’s economy, add substantial funding to growth and facilitate technology transfer. Republic of Korea (ROK) is one of the world’s developed countries with dynamic economy, advanced science and technology. In recent years, the Korean government has continuously formulated tax policies, policies to support the business economy and import policies to support foreign businesses in Korea. The Pangyo Valley Creative Economy Valley is being groomed as a global startup hub in Asia. Small and medium enterprises (SMEs) in foreign countries are increasingly interested and eager to seek investment opportunities in the Korean market. Nonetheless, for these companies, language barriers and cultural and institutional differences make it more difficult and time-consuming to learn about the Korean market (such as investment trends, laws, visa policies, taxes and business establishment issues in Korea, etc.). In this study, we explored the process of searching information and seeking investment opportunities and built a business consulting and support application in the first stages of starting a business in ROK to increase effectiveness and save time, which is also an innovative business practice in Use-case ROK. We designed our Virtual Assistant system that can crawl and analyze data on foreign investments in ROK from open data resource websites (data.co.kr) and used analytic and aggregation techniques to explore trends in investments of foreign enterprises. We also researched the process of searching information and seeking investment opportunities for SMEs when investing in ROK, government support policies, laws and taxes as well as a number of other related issues. We built datasets and used Natural Language Processing (NLP) together with Natural Language Understanding (NLU) algorithms to build chatbot applications. Friendly framework for new developers to add and build up the dataset of AI Assistant is built by providing input intent data function, input Entity data function, input utterance data function as well as training and test function. In addition, we built a web-app connected to the server to visualize all the results of research so that SMEs owners can easily use and look for information on investments. Based on the research results, we can make recommendations to SMEs in keeping with the changing investment trends in ROK.
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Suyawan, Meirani, and Kurnia Togar Pandapotan Tanjung. "ON PROPOSAL TO REGULATE ABUSE OF SUPERIOR BARGAINING POSITION: LESSONS FROM OTHER JURISDICTIONS." Jurnal Hukum & Pembangunan 50, no. 1 (2020): 145. http://dx.doi.org/10.21143/jhp.vol50.no1.2487.
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The latest version of the draft bill regarding Law on the Prohibition of Monopolistic Practices and Unfair Business Competition has added new arrangements about the abuse of a superior bargaining position. The new law proposal which is intended to amend existing Indonesian competition law (Law Number 5 Year 1999) stipulates that any business actor is prohibited from abuse its superior bargaining position within a partnership agreement with other less dominant entities. Under Law Number 20 Year 2008 on Micro, Small and Medium Enterprises, a partnership agreement means any agreement made between micro, small and medium enterprises and large enterprises like state or privately owned national businesses, joint ventures and foreign businesses that conduct economic activities in Indonesia. For example under the Indonesian Minister of State-Owned Enterprises (SoE) Regulation No. 7 of 2015, the SoE is obligated to arrange a business partnership agreement with small scale enterprise. Unlike the arrangements on abuse of dominant position which requires the establishment of monopoly power or dominance in a relevant market, the abuse of superior bargaining position may exist without market power and only required competition authority to detect whether there is any exploitation by the counterparty in a relatively stronger bargaining position. Such a condition makes many antitrust experts or economists question the relevancy of regulating abuse of superior bargaining position under competition law. However, several jurisdictions –Japan, Korea, Taiwan, France, and Germany- have regulated the abuse of superior bargaining position under their national competition laws
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Hidayati, Ratnaningsih, and Nadya Megawati Rachman. "Dukungan Pemerintah Dan Strategi Keberlanjutan Bisnis Ukm Korea Selatan Di Tengah Pandemi Covid 19." Image : Jurnal Riset Manajemen 9, no. 2 (2021): 125–33. http://dx.doi.org/10.17509/image.v9i2.28758.
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Global pandemic of COVID-19 has bee creating economic disruption in many countries including South Korea. The decline in the trade sector due to the COVID-19 pandemic does not only affect large-scale industries. The Small and Medium Enterprises sector is also affected by the impact of the implementation of various policies in place to anticipate the spread of this virus. This study aims to provide an overview of government policies and business strategies for South Korean SMEs in the midst of the COVID-19 Pandemic and this study is also expected to provide input for the Government to design appropriate, fast and quality economic recovery programs for SMEs affected by COVID-19. . This paper uses a qualitative approach. The data collection technique was carried out through literature study / literature study and interviews with the Republic of Indonesia Trade Representative in South Korea. The results showed that as a country that was first affected by COVID-19, the response of the South Korean government was relatively fast and sufficient to guarantee business continuity for SMEs, there are five main policies implemented by the South Korean Government and five Business Strategies of SMEs in dealing with COVID- 19.
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Jin, Seung Hoo, and Sang Ok Choi. "The Effect of Innovation Capability on Business Performance: A Focus on IT and Business Service Companies." Sustainability 11, no. 19 (2019): 5246. http://dx.doi.org/10.3390/su11195246.
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With the introduction of a wide variety of new technologies during the fourth industrial revolution, companies in Korea have attempted to enhance their innovation activities, which include investment in new technology adoption, technical and non-technical innovation factors, and Research & Development (R&D) activity, to ensure the development and growth of their business performance and sustainability. In particular, IT and business services, two important industries in Korea, have been impacted by the development of new technology and have sought to adopt new technologies as soon as possible to survive in a rapidly changing business environment. The aim of our study is to empirically explore the effect of innovation activities on the performance of Korean IT and business service companies. To achieve this aim, we examine the innovation activities and business performance of 160 companies (80 large companies and 80 small- and medium-sized enterprises (SMEs)) in the IT and business service industries in Korea from 2009 to 2017. This study empirically analyzes panel data using fixed effect and random effect models with Hausman tests. According to our results, an improvement in product innovation has a positive impact on business performance (i.e., revenue and labor productivity) in both large companies and SMEs, as does R&D investment, research resources, and company age. However, an improvement in process innovation only has a positive impact on the business performance of large companies, and R&D cooperation only has a positive impact on the business performance of SMEs. As a result, both large companies and SMEs should concentrate on technological innovations to improve their sustainability and thus ensure their success in the long term.
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Im Gon Cho. "Trend Analysis of Business Management Indices of Local Public Enterprises in Korea." Public Policy Review 24, no. 1 (2010): 135–56. http://dx.doi.org/10.17327/ippa.2010.24.1.006.
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Park, Won, Chang Soo Sung, and Chung Gyu Byun. "Impact of Unlisted Small and Medium-Sized Enterprises’ Business Strategies on Future Performance and Growth Sustainability." Journal of Open Innovation: Technology, Market, and Complexity 5, no. 3 (2019): 60. http://dx.doi.org/10.3390/joitmc5030060.
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This study aims to identify, from among business strategies presented in Miles and Snow (1978, 2003), those that increase the future performance or growth sustainability of unlisted small and medium-sized enterprises (SMEs) in Korea. (This study applied the scope of SMEs based on Article 2 of the Enforcement Decree of the Tax Exemption Restriction Act in Korea. The Korean tax law sets the scope of SMEs based on independence criteria set by the scale of sales, assets, and affiliation, and subordination. For example, the size standard of a manufacturing industry can be regarded as a small business if the average sales amount is less than 150 billion won or the total amount of assets is less than 500 billion won for three years.) In addition, it analyzes measured variables of business strategy for factors influencing unlisted SMEs’ future performance and growth potential. The objective is to determine a business strategy for unlisted SMEs, which are small, financially challenged, and have shorter lifespans and faster growth rates. The results highlight that investment in research and development (R&D) for new products influences both future performance and growth sustainability. R&D is an important intangible resource of the firm, which increases future risk due to high future uncertainty, but it is also an important factor to increase future performance or value based on resource-based theory. In the accounting field, research and development expenditure also provided evidence of future excess return or performance. This study is meaningful because it identifies the role of research and development in increasing future growth sustainability in SMEs, thus emphasizing change and innovation.
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Kuzmina, E. Yu, I. V. Soklakova, and I. L. Surat. "INNOVATIVE DEVELOPMENT AS A FACTOR OF THE NATIONAL ECONOMY COMPETITIVENESS." Vestnik Universiteta, no. 2 (April 23, 2020): 63–67. http://dx.doi.org/10.26425/1816-4277-2020-2-63-67.
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Russian enterprises are not paying enough attention to the issues of innovative development, while global trends demonstrate the increase of enterprises competitiveness through the introduction of innovations. Innovations are able qualitatively improve enterprise performance indicators in conditions of tough competition. For many domestic enterprises, in such conditions the innovation and its specific results could be a key criterion of success. Lack of investment is the most important problem holding back innovations. The experience of support and development of innovations in Canada and South Korea has been considered in the article. It has been concluded that in general the Russian Federation is experiencing a global transfer to an innovative economy, which in the future should be an undoubted advantage for the production of competitive products. The creation of radically new products and services, as well as the enhancement of existing ones, will allow Russian enterprises systematically improve their image, increase their business reputation, which will attract more investments.
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Chae, Soo-Joon, and Kiwi Chung. "The Effect Of Human Resource Investment In Internal Accounting Control On Cost Stickiness." Journal of Applied Business Research (JABR) 31, no. 5 (2015): 1719–32. http://dx.doi.org/10.19030/jabr.v31i5.9386.
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This study examined the characteristics of internal accounting control system based on size of human resources assigned to the system to verify whether downward stickiness of total cost and selling and administrative expenses differentially appears according to the level.An entrepreneur who wishes to maximize one's utility has an incentive to externally grow the enterprise beyond the optimal size or to possess idle resources, creating cost sticking phenomenon by possessing surplus resources even when sales volume decreases. Previous studies verified the effect of control system intended to resolve the agency problem on asymmetry of cost. This study expanded the scope of previous studies to consider internal accounting control system as a monitor of the agency problem. Enterprises that effectively operate internal accounting control system are expected to show limited opportunistic incentive of the entrepreneurs because of reduced agency cost.The main purpose for enterprises to establish and operate internal accounting control system is to provide accurate and reliable financial information to investors by preventing or uncovering accounting scandals of the management and possibility of errors. Internal accounting control system of Korea was first introduced in September 2001 through 'Corporate Restructuring Promotion Act', and Financial Supervisory Service announced the regulation on public announcement in September 2002 as a series of relevant measures. The regulation requires enterprises to publicly announce the number of workers in each department in charge of internal accounting control system on the internal accounting control system report. Under the presumption that internal accounting control can be more effectively done by increasing the number of workers in charge of internal accounting control system, the intent of such public announcement is to provide external interested parties with information that can be used to determine whether internal accounting control system of an enterprise is being effectively managed. Accordingly in this study, enterprises with large size of human resources assigned to internal accounting control system were predicted to show relaxed downward stickiness of cost.As a result of verifying 2,532 enterprise-year samples listed on Korea Stock Exchange between 2003 and 2008, enterprises with larger size of human resources assigned to internal accounting control system were found to show relaxed downward stickiness of cost. This means that an enterprise with large number of workers assigned to internal accounting control system can effectively monitor the enterprise, which can efficiently control opportunistic decisions of the entrepreneur such as downward stickiness of cost. As an additional analysis, human resources were classified into departments to which persons in charge of internal accounting are affiliated to examine the effect on downward stickiness of cost. As a result of verification, high ratio of internal accounting personnel assigned to accounting department resulted in relaxed downward stickiness of cost. Accounting departments in charge of preparing for financial statements were more effectively performing monitoring work compared to other departments.
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Dikan, Olena, Hanna Obruch, Nataliia Panchenko, and Natalia Frolova. "Formation of the Conceptual Basis of State Support for Development of Social Enterprises in Ukraine." International Journal of Engineering & Technology 7, no. 4.3 (2018): 419. http://dx.doi.org/10.14419/ijet.v7i4.3.19908.
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The article deals with the phenomenon of social entrepreneurship. The importance of social enterprises in solving social problems and ensuring economic development of the state are outlined. The ranking of countries is based on the level of favorable conditions for the functioning of social enterprises, among which the most favorable conditions are characterized by the USA. The peculiarities of the state policy in the sphere of social enterprise development in South Korea are investigated, which, according to this rating, occupies the leading position among the countries in terms of state support of social business entities. The present state of development of subjects of social entrepreneurship in Ukraine is considered, which allowed to determine the main problems of their functioning. The conceptual basis of state support for the development of social entrepreneurship in Ukraine is formed, which is based on the definition of legal, financial, institutional and informational and consulting tools for the growth of social enterprises. Socio-economic effects of realization of social initiatives are revealed.
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Schober, Elisabeth. "Building ships while breaking apart." Focaal 2021, no. 89 (2021): 12–24. http://dx.doi.org/10.3167/fcl.2021.890102.
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With the center of gravity of the maritime industry over recent decades progressively moving eastwards, South Korea is today a giant in both shipping and shipbuilding. Its largely family-controlled industrial enterprises are nowadays increasingly engaged in risky business experiments abroad, which on occasion fail in a spectacular manner. By following the story of how one family-run economic actor invested unsuccessfully in the Philippines, I combine an exploration of the political-economic factors involved in this failure with an investigation of how these larger structures are entangled with a complex family story inside a Korean conglomerate. The forced separation between family and business that ensued in this case illuminates changing and competing ideals of “waterborne” capitalism in the twenty-first century.
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Jang, Yong Joon, Mee Jin Cho, and HanSung Kim. "Trade-employment linkage of FTAs in Korea." Journal of Korea Trade 22, no. 4 (2018): 333–47. http://dx.doi.org/10.1108/jkt-03-2018-0021.
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Purpose The purpose of this paper is to empirically examine the link between trade liberalization and employment through the export channel under Korea’s FTAs by distinguish firm heterogeneity (i.e. size) as well as sector-level international competitiveness (i.e. comparative advantage). Design/methodology/approach Using the firm-level data during 2000–2009, the authors drive the difference-in-difference-in-difference model on Wagner (2007) with the dependent variables of labor productivity and employments and the independent variables of free trade agreement, revealed comparative advantage, firm size and payroll costs. Findings The authors find that the economic benefit of FTAs in Korea is not concentrated in large enterprises or firms with comparative advantage. Accordingly, the authors conclude that FTA or trade liberalization brings positive effects to business as a whole, rather than to specific industries or group of firms. Research limitations/implications The Korean Government has continued its policy of supporting small and medium-sized enterprises (SMEs) for a long time by recognizing them as socially underprivileged. According to the results of this study, an increase in export through FTAs improves firm’s labor productivity and increases employment, especially for SMEs, which can be a practical and efficient support for them. Originality/value The paper provides the empirical evidences that how the effects of trade liberalization on labor depend on firm heterogeneity, industrial competitiveness and/or both and thus how labor is reallocated in response to trade liberalization in Korea.
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Tandjung, Johanes Jenu Widjaja. "STRATEGI PERUSAHAAN LOKAL MENGHADAPI PERSAINGAN MASYARAKAT EKONOMI ASEAN (MEA)." Jurnal Bisnis Terapan 1, no. 02 (2018): 23–32. http://dx.doi.org/10.24123/jbt.v1i02.792.
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Business competition in Indonesia has entered a new chapter, immediately upon the ASEAN Economic Community establishment in 2015. Since then, the domestic market has been penetrated by foreign competitors, particularly from ASEAN member states, China, and South Korea. It is inevitable that the regional competition impinges local business lines. Therefore, these enterprises must initiate “glocally” marketing strategy - a global approach with a local taste that attracts local prospects.
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Kwahk, Kee-Young, Sung-Byung Yang, and Hyunchul Ahn. "How Organizational Citizenship Behavior Affects ERP Usage Performance: The Mediating Effect of Absorptive Capacity." Sustainability 12, no. 11 (2020): 4462. http://dx.doi.org/10.3390/su12114462.
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Enterprises have implemented enterprise resource planning (ERP) systems as a strategic vehicle to gain a competitive edge. However, such ERP systems do not always guarantee successful results. While ERP systems may provide an organization with numerous benefits, they can also destroy a business if not successfully adopted, owing to enormous investment losses coupled with low business efficiency. To explore a way to reverse this situation, we examine how organizational citizenship behavior influences the successful management of ERP systems. Moreover, the mediating role of absorptive capacity in this relationship is investigated. The empirical analysis results, based on 188 surveyed organizations in Korea, reveal a partial mediating role of absorptive capacity on the relationship between organizational citizenship behavior and ERP usage performance. The findings of the study shed light on the ways of how the companies that adopt ERP systems to facilitate ERP usage and to gain business sustainability.
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Baek, Doo-Joo, Chi-Young Yun, and Yong-Jun Oh. "A Case Study on Commercialization of Appropriate Technology in Lao PDR: Focusing on Lao-Korea Science and Technology Center." Academic Society for Appropriate Technology 7, no. 2 (2021): 225–34. http://dx.doi.org/10.37675/jat.2021.7.2.225.
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The purpose of this paper is to examine commercialization model of appropriate technology through the case of the LaoKorea Science and Technology Center (LKSTC). LKSTC has developed washing, water treatment, and sterilization technology in the agrifood sector and three types of pico-hydro generator, Pico-solar hybrid system, and energy remote monitoring technology in the renewable energy sector. Commercialization of appropriate technology was successfully carried out through the establishment of Kaipan community business, school enterprises, and social enterprise. The policy implications are as follows. First, the commercialization of appropriate technology in developing countries should enhance the linkage with the regional development policies of the recipient countries. Second, in order to minimize market risk, innovative technology development and local startup networks should be properly established. Finally, the mid and long term efforts are needed to increase the sustainability of the business.
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Cho, Changwon, Boyoung Kim, and Sungho Oh. "Effects of the Entrepreneurial Strategic Orientation of Social Enterprises on Organizational Effectiveness: Case of South Korea." Administrative Sciences 12, no. 1 (2022): 19. http://dx.doi.org/10.3390/admsci12010019.
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This study aims to empirically verify whether the entrepreneurial strategic orientation of social enterprises has any effect on organizational effectiveness with the mediation of dynamic capabilities. In the consideration of social enterprises’ features, strategic orientation consisted of social value orientation, entrepreneurial orientation, and market orientation. Dynamic capabilities consisted of absorption capacity and coordination capacity, and organizational effectiveness was comprised of job satisfaction and organizational commitment. An online questionnaire survey targeted 228 employees of Korean social enterprises. The survey results were analyzed using a structural equation. As a result of the analysis, entrepreneurial orientation and market orientation significantly affected absorption capacity, but social value orientation did not affect it. Social value orientation and market orientation significantly affected coordination capacity, but entrepreneurial orientation did not affect it. Absorptive capacity and coordination capacity affected organizational effectiveness, and the hypotheses were adopted. Consequently, it was revealed that market orientation had the most significant effects on social enterprises’ dynamic capabilities and organizational effectiveness. It was confirmed that social value orientation and entrepreneurial orientation revealed differences depending on the absorptive capacity and coordination capacity of dynamic capabilities.
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Jin, Seunghoo, and Daeyu Kim. "The Effects of Patents on the Relationship between R&D Activities and Business Management Performance: Focus on South Korean Venture Companies." Journal of Open Innovation: Technology, Market, and Complexity 7, no. 4 (2021): 210. http://dx.doi.org/10.3390/joitmc7040210.
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Today, innovation is achieved by challenging the existing paradigm through cross-field collaboration, and R&D innovation plays a particularly crucial role. This study analyzed the effects of R&D innovation activities on business management performance in South Korea and examined the role that patents play in various R&D innovation activities. Panel regression and moderating effect analyses were conducted on small- and medium-sized venture enterprises that undertook new technology projects over five years (2015–2019). The results showed that R&D innovation activities had a significantly positive effect on both revenue, an indicator of business growth, and operating profit, an indicator of profitability. This implies that such activities play a positive role in management activities. Thus, enterprises should consider R&D innovation activities from a business growth strategy perspective. Additionally, the analysis showed that a firm’s capacity to hold patents on R&D innovation activities has a positive moderating effect on business management performance. This study is significant, as it reveals the cause-and-effect relationship between R&D innovation actives and business management performance as well as the role of various types of innovation. The results could help enterprises to seamlessly implement innovation activities in the future.
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Hong, Soon-Goo, Keng Siau, and Jong-Weon Kim. "The impact of ISP, BPR, and customization on ERP performance in manufacturing SMEs of Korea." Asia Pacific Journal of Innovation and Entrepreneurship 10, no. 1 (2016): 39–54. http://dx.doi.org/10.1108/apjie-12-2016-008.
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Purpose This paper aims to assess how enterprise resource planning (ERP) performance of Korean small and medium enterprises in manufacturing differs according to different levels of business process reengineering (BPR), information strategic planning (ISP) and ERP customization. Design/methodology/approach A questionnaire survey was carried out in this research. Responses from 96 small and medium manufacturing companies that have adopted ERP systems were analyzed. Findings The results of this study suggest that ISP and BPR implementation are positively correlated to ERP performance. Originality/value While consulting and customization costs have positive impacts on ERP performance, the level of customization does not influence performance. As one of the pioneering studies that investigate the impact of BPR, ISP and ERP customization on small and medium manufacturing companies, this research contributes to both theory and practice.
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Lee, Sun Ho, Eung-Soon Lim, and Jinyoung Hwang. "Do credit guarantees for small and medium enterprises mitigate the business cycle? Evidence from Korea." Empirical Economics 52, no. 4 (2016): 1367–78. http://dx.doi.org/10.1007/s00181-016-1106-4.
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Moon, Hyung-Nam. "A case study of Business Model Innovation : Focusing on ICT Enterprises of USA, China, Korea." E-Business Studies 18, no. 1 (2017): 277–87. http://dx.doi.org/10.20462/tebs.2017.02.18.1.277.
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Lee, Rok. "The Effect of Supply Chain Management Strategy on Operational and Financial Performance." Sustainability 13, no. 9 (2021): 5138. http://dx.doi.org/10.3390/su13095138.
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Given that small and medium manufacturing enterprises (SMEs) are key to national economic development, the application of supply chain strategies that support their sustainability is critical. This study aims to identify the effects of supply chain management (SCM) on the operational performance of SMEs in Korea, specifically considering organizational competencies. To achieve this, an empirical survey was conducted on 300 Korean manufacturing SMEs that had introduced SCM strategies. The relationships between the variables were analyzed through structural equation modeling. These show that specific SCM strategies and organizational competencies had a significant effect on overall business performance. Furthermore, the SCM strategies had a significant effect on SME organizational competencies. Additionally, we analyzed the mediating effect of organizational competencies on the effect of SCM strategy on overall business performance. We found that organizational competence mediated the effect of SCM strategy on operational performance, but not on financial performance. The study shows that introducing SCM strategies directly improves business performance and is closely related to competencies such as research and development, technology commercialization, production capability, and marketing capabilities. Consequently, a combination of SCM strategies and organizational competencies can generate sustainable overall business performance among SMEs.
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Kim, Young-Jin, Jung-Wan Hong, and Yen-Yoo You. "A Convergence Model for Environment Analysis of SME (Small and Medium Enterprises) Using RPA (Robotic Process Automation)." Journal of Computational and Theoretical Nanoscience 18, no. 5 (2021): 1577–81. http://dx.doi.org/10.1166/jctn.2021.9587.
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The purpose of this study is to investigate the effectiveness of the consulting project of the convergence model for analyzing the market environment of Small and Medium Enterprises (SME) using Robotic Process Automation (RPA). The subject of the study was the semiconductor manufacturing machinery manufacturing industry (Korea Standard Industry Code (KSIC): C29271), and the market environment analysis process modeling was conducted using the RPA program. In fact, the Korean RPA program, “AutomateOne,” was used to automate market environment analysis. Currently, RPA is used as a substitute for simple, repetitive and standardized work in the financial sector, and it is used only in limited fields such as accounting duties, so studies on the applicability in other industries are insufficient. In this study, in the field of knowledge service in which consultants are mainly active, in market analysis work, scripts were created through actual business process modeling to show the possibility of application in the relevant work. The application of the consulting project was proved by the contribution of digital workers, which is a realistic measure against the reduction of the production worker population. In this study, an application case of robot process automation was studied in the knowledge service industry. In the future, research is needed to increase the efficiency of business process modeling through linking with open Python libraries and cognitive functions of machine learning or deep learning.
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Kim, Young-Jin, Jung-Wan Hong, and Yen-Yoo You. "A Convergence Model for Environment Analysis of SME (Small and Medium Enterprises) Using RPA (Robotic Process Automation)." Journal of Computational and Theoretical Nanoscience 18, no. 5 (2021): 1577–81. http://dx.doi.org/10.1166/jctn.2021.9587.
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The purpose of this study is to investigate the effectiveness of the consulting project of the convergence model for analyzing the market environment of Small and Medium Enterprises (SME) using Robotic Process Automation (RPA). The subject of the study was the semiconductor manufacturing machinery manufacturing industry (Korea Standard Industry Code (KSIC): C29271), and the market environment analysis process modeling was conducted using the RPA program. In fact, the Korean RPA program, “AutomateOne,” was used to automate market environment analysis. Currently, RPA is used as a substitute for simple, repetitive and standardized work in the financial sector, and it is used only in limited fields such as accounting duties, so studies on the applicability in other industries are insufficient. In this study, in the field of knowledge service in which consultants are mainly active, in market analysis work, scripts were created through actual business process modeling to show the possibility of application in the relevant work. The application of the consulting project was proved by the contribution of digital workers, which is a realistic measure against the reduction of the production worker population. In this study, an application case of robot process automation was studied in the knowledge service industry. In the future, research is needed to increase the efficiency of business process modeling through linking with open Python libraries and cognitive functions of machine learning or deep learning.
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Lee, Younggeun, Michael Howe, and Patrick M. Kreiser. "Organisational culture and entrepreneurial orientation: An orthogonal perspective of individualism and collectivism." International Small Business Journal: Researching Entrepreneurship 37, no. 2 (2019): 125–52. http://dx.doi.org/10.1177/0266242618809507.
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This study contributes to the existing literature regarding the relationship between culture and entrepreneurship. Building upon the precepts of institutional theory, we examine the influence of organisational culture on firm-level entrepreneurial orientation. While entrepreneurship researchers have emphasised the importance of entrepreneurial orientation for firms, the influence of organisational culture in supporting the incidence of entrepreneurial orientation has not been adequately studied. In an effort to contribute to this emergent area of inquiry, we consider the role of two key dimensions of organisational culture − individualism and collectivism – in facilitating entrepreneurial orientation. In doing so, we illustrate the utility of adopting an orthogonal conceptualisation of these cultural dimensions rather than the commonly held unidimensional formulation. We use polynomial regression and response surface methodology to investigate the effects of both dimensions of organisational culture on entrepreneurial orientation. Using Korea as the main context of the study, we support our hypotheses using data collected from 406 Korean small- and medium-sized enterprises.
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Den Sik, Kan. "The role of chaebol in the development of the economy of South Korea." Вісник Київського національного лінгвістичного університету. Серія Історія, економіка, філософія, no. 25 (September 14, 2022): 29–39. http://dx.doi.org/10.32589/2412-9321.25.2020.264216.
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The article describes the specifics of the relationship between the state and big corporations (chaebol). There are analyzed the economic changes of the Republic of Korea, related to the world economy globalization and scientific and technical revolution. Many aspects of this global restructuring of the economy have their own history. The relationship between the state and large chaebol corporations played a significant role in these changes.Special attention in the article is focused on the analysis of the relations system between the state and large enterprises in the Republic of Korea during the period 1960-1980 and the transformation of the relations at the beginning of the 21st century. The influence of geopolitical and economic factors on its functioning is established. The important historical stages of development of the South Korean economy are analyzed. Important factors and preconditions that have contributed to the transformation of South Korea into one of the most developed countries in the world have been investigated. The dynamics of the development of the Korean economy and ways to overcome the crisis situations that arose during the history of the state development were analyzed.There were quite a lot of difficulties in the relations between the state and the chaebols, but the timely response to the changes of the world economy has borne fruit. It should be noted that the state and the chaebol have repeatedly reformed their relations and found consensus. As a result, such corporations as Hyundai, Samsung, LG, Hesong and others moved to the category of multinational companies (TNCs). Large corporations and business groups in different parts of the world differ among themselves in a number of economic, political and socio-cultural features, but the relationship between the state and the chaebols in the Republic of Korea deserves special attention from developing countries.
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Kim, Choonghyun, and Jaekang Lee. "The Effect of Network Structure on Performance in South Korea SMEs: The Moderating Effects of Absorptive Capacity." Sustainability 10, no. 9 (2018): 3174. http://dx.doi.org/10.3390/su10093174.
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This study has analyzed how the network structure (density, centrality) affects the performance (convergence, overall) in Small and Medium-Sized Enterprises (SMEs) with the different business exchange activities. In addition, we conducted a moderating effect of absorptive capacity (ability, motivation). Based on previous literature about the network and absorptive capacity, research hypotheses were developed and tested using a sample of 226 SMEs in South Korea. The results show that network density and centrality have a positive effect on perceived convergence and overall performance. These results are consistent with previous network studies relating to structural characteristics. To raise total performances in firms with different business exchange activities, they need to enhance density and centrality. For example, firms with different business exchange activities and high levels of density and centrality are able to easily obtain various types of information from other members of 7000 firms in Korea. Through this, they can improve performance. We also conducted the moderated regression analysis. The results show that employee ability has a positive moderating effect on the relationship between centrality and the overall performance while employee motivation has a negative moderating effect. The implications and directions for future study along with limitations are presented.
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박소연 and 송영수. "The study for global business competency model to develop the talent in the large enterprises in Korea." Korean Journal of Human Resource Development Quarterly 10, no. 3 (2008): 65–85. http://dx.doi.org/10.18211/kjhrdq.2008.10.3.004.
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Won, Gu-Hwan. "Comparative Analysis of Local Public Enterprises in Korea and Japan: Focusing on the Local Water Supply Business." Korean Association for Local Public Enterprises 17, no. 2 (2021): 1–22. http://dx.doi.org/10.24020/kjlpe.2021.17.2.1.
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Jeong, Dong‑Bin. "Association between business switch or liquidation, and the demographics of Small and Medium Enterprises in South Korea." Journal of Industrial Distribution & Business 9, no. 9 (2018): 25–33. http://dx.doi.org/10.13106/ijidb.2018.vol9.no9.25.
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Kim, Young Ah, Hammad Akbar, Nikolaos Tzokas, and Haya Al-Dajani. "Systems thinking and absorptive capacity in high-tech small and medium-sized enterprises from South Korea." International Small Business Journal: Researching Entrepreneurship 32, no. 8 (2013): 876–96. http://dx.doi.org/10.1177/0266242613483632.
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Kang, Moon Young. "What Makes Companies to Survive over a Century? The Case of Dongwha Pharmaceutical in the Republic of Korea." Sustainability 14, no. 2 (2022): 946. http://dx.doi.org/10.3390/su14020946.
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Considering their significant impacts on national economy, local communities, employees, suppliers, and other stakeholders, firm survival is an important goal for most companies. However, firm longevity is not an easy result to achieve, and it becomes more difficult as business environments shift dramatically. The average life span of companies listed in Standard and Poor’s 500 was 61 years in 1958, but it fell to less than 18 years in 2016. Nevertheless, more than 3000 companies over 200 years old still operate in Japan, mostly family inherited small and medium enterprises (SMEs), and Germany has many centenarian companies, especially in the manufacturing industry. However, in the Republic of Korea, with over 4000 years of history, there are no companies older than 200 years and only seven companies with over 100 years of history. Centenarian companies in Korea are very limited, and even after surviving over 100 years, they continue to face severe challenges they need to overcome in order to survive. However, it is not clearly proven what factors affect the survival of companies for over a century. Since SMEs contribute to the economic development and survival of a country, it is important to investigate the secrets of their longevity, which has become even more difficult than ever. However, as there is very limited research on firm longevity, the findings from this case study of Dongwha Pharmaceutical, balancing the continuity of tradition and innovation, provide significant implications and practical guidelines for Korean SMEs for their survival and sustainable management, which is an economic and business aspect of sustainability.
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Regnier, Philippe. "The dynamics of small and medium-sized enterprises in Korea and other Asian NIEs." Small Business Economics 5, no. 1 (1993): 23–36. http://dx.doi.org/10.1007/bf01539316.
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You, Tae-Ho, and Yen-Yoo You. "The Effect of Entrepreneurship on the Sustainability of Social Small and Medium Enterprises (SMEs) - Between the Mediating Effects of Government Support Policy in Korea." Research in World Economy 11, no. 2 (2020): 112. http://dx.doi.org/10.5430/rwe.v11n2p112.
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Background/Objectives: This study aims to study the impact of the entrepreneurial mentality of social small and medium-sized entrepreneurs on the sustainability of SMEs through the intermediary effect of the Korean government-backed policy for social enterprises in South Korea.Methods/Statistical analysis: The target of the study is the CEO of a social small and medium-sized business company that has been in business for less than seven years, and the survey method was conducted. The questionnaire item was composed of a total of 35 questions, including five demographic questions, the measurement was used for a Likert 5-point scale. Using SPSS 22.0 as an empirical analysis was carried out technical statistical analysis, exploratory factor analysis, reliability analysis, regression analysis, mediated analysis.Findings: Looking at the results of the study, first, the empathy, social value orientation, and innovation of the entrepreneurial spirit of social start-ups have been shown to affect the sustainability of social SMEs. Social value orientation has the greatest impact (β = .345***). Second, Empathy, Social value orientation, and Innovation have been shown to influence government policy support, but risk-taking has not been affected. Social value orientation has the greatest impact (β= .459***). Third, the Republic of Korea Government Support Policy has been shown to have an impact on sustainability (β= .751***). Fourth, about the impact of Social SMEs Entrepreneurship and sustainability, innovation and Risk-taking is partly mediated by Government Support Policy, while Empathy (p=.158) and Social value orientation (p=.148) was found to be a complete mediating.Improvements/Applications: In this study, which mediated government-funded policies on the impact of the entrepreneurial mentality of the CEO of a Social SMB, empathy and Social value orientation were identified as important factors. Therefore, it is believed that a study will be needed on the optimal configuration scenario of the Government Policy Support System of the Republic of Korea, which takes into account social entrepreneurship.
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주상현. "The Status and Policy challenges of Overseas Business in State-Owned Enterprises - Focused on Korea Westernpower Overseas Projects -." Korean Journal of Local Government & Administration Studies 27, no. 1 (2013): 335–58. http://dx.doi.org/10.18398/kjlgas.2013.27.1.335.
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Seo, Hyeon Sik, and YoungJun Kim. "INTANGIBLE ASSETS INVESTMENT AND FIRMS’ PERFORMANCE: EVIDENCE FROM SMALL AND MEDIUM-SIZED ENTERPRISES IN KOREA." Journal of Business Economics and Management 21, no. 2 (2020): 421–45. http://dx.doi.org/10.3846/jbem.2020.12022.
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While many studies have examined the relationship between investment in intangibles assets and performance in large corporations, current research is lacking in regard to intangible investments in small and medium enterprises (SMEs). This study looks at SMEs in which intangible investments would usually be minor because they tend to consider intangible investment as an inefficient cost and concentrate on investments in tangible assets. This paper aims to contribute to the current literature and suggests that investment in the intangible assets of (human capital, advertising, R&D) is essential for SMEs pursuing superior firm performance. Actual data collected from 173 SMEs in Korea were analyzed employing hierarchical regression methodology. Results indicate that all three intangible resources have a positive effect on a firm’s profitability and value. Interestingly, this research finds that investment in advertising has the most influential impact on a firm’s profitability and value. This study has implications for SMEs in achieving their profitability and value. The results in this study highlight that intangible investment is not a waste of money for SMEs, and that business managers could strategically utilize these three key contributors (human capital, advertising, R&D) and adopt investment in intangible assets to accomplish their managerial goals.
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Hong, Dasom. "Production and Securitization of Foregin Infrastucture by “Team Korea”." Financial Internet Quarterly 16, no. 3 (2020): 1–18. http://dx.doi.org/10.2478/fiqf-2020-0015.
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Abstract The financialization of infrastructure has emerged as a resolution for alleviating government budget pressures derived from chronic underinvestment in infrastructure and post-global financial crisis recession. Two interrelated phenomena are considered central features of the financialization of infrastructure: the transformation of infrastructure into an alternative asset class and the growth of public–private partnerships (PPPs) in infrastructure development. In particular, the expansion of global PPPs has attracted the attention of various entities, including state-owned enterprises (SOEs). Recently, SOEs have participated in foreign infrastructure PPPs as private sector entities. Unlike conventional private sector involvement in infrastructure PPPs, SOEs aim to achieve public objectives and mobilize both public and private resources to enhance competitiveness within the global PPP market. In this paper, the specificities of SOEs participating in foreign infrastructure PPPs and their implications for the financialization of infrastructure are analyzed using a South Korean SOE: Korean Overseas Infrastructure and Urban Development Corporation (KIND). This reveals why and how SOEs engage in foreign infrastructure PPPs via the drivers and business strategies of KIND. Moreover, it examines infrastructure PPPs managed by KIND to reveal how the business strategies of KIND work in practice. Consequently, this paper suggests that SOEs engaging in foreign infrastructure PPPs attempt to achieve policy objectives through the production and financialization of foreign infrastructure. In the process, SOEs actively take advantage of entities and resources from both the public and private sectors.
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Yang, Su Jin, and Seyoon Jang. "How Does Corporate Sustainability Increase Financial Performance for Small- and Medium-Sized Fashion Companies: Roles of Organizational Values and Business Model Innovation." Sustainability 12, no. 24 (2020): 10322. http://dx.doi.org/10.3390/su122410322.
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The objective of this study was to examine how corporate sustainability can raise the level of corporate financial performance of small- and medium-sized enterprises (SMEs) in the fashion industry by considering the roles of organizational values and business model innovation in forming corporate sustainability. It is meaningful to explore the role of corporate sustainability in SMEs as well as fashion companies considering the recent growth of SMEs in the fashion industry. Practitioners (N = 218) working for SMEs located in South Korea participated in an online survey. Exploratory factor analysis resulted in three organizational values of SMEs: flexibility value, rational value, and hierarchical value. While flexibility has contributed to forming business model innovation and sustainability, having a rational value has impacted business model innovation and financial performance. A hierarchical value affected only corporate sustainability. However, business model innovation did not show any significant impact on corporate sustainability or financial performance. Finally, corporate sustainability positively influenced financial performance only for SMEs that had experience practicing at least three sustainable activities. These results have implications for how SMEs manage sustainability to enhance financial performance.
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Pudovkina, O., and S. Sharokhina. "Digital Platform of Industrial Cooperation – Innovative Direction of Regional Industry Development." SHS Web of Conferences 71 (2019): 04016. http://dx.doi.org/10.1051/shsconf/20197104016.
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The authors consider the role of the digital economy in Russia and some related processes. The aim of the study was to develop recommendations for the formation of a digital platform for the industrial cooperation. It is obvious that Russia is not a leader by the index of business digitalization (the leading countries are Finland, South Korea, and Netherlands). The authors make a conclusion about the feasibility of using a digital platform for industrial cooperation, which allows linking resources and consumers of products and services in a single information space. They also consider the creation of a regional subcontracting centre as the organizational model focused on the cooperative relations formation for production chains of large, small, and medium business, as well as on the stimulation of innovations through technology transfer, promotion opportunities for products of industrial enterprises on regional markets.
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Cin, Beom-Cheol, and Kuk-Hyun Choe. "Analyses of the Effects of Government Export Promotion Programs on Export Performance: Empirical Evidence for Small and Medium-Sized Enterprises in Korea." Journal of Korea Trade 26, no. 5 (2022): 39–55. http://dx.doi.org/10.35611/jkt.2022.26.5.39.
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Purpose - This study empirically examines the effect of the Korean government export promotion program (EPP) on small and medium-sized enterprise (SMEs) export performance using firm-level data. Unlike most previous studies that investigated some specific samples of firms, this study analyzes a vast amount of SME data of the Korean Small and Medium Business Administration over the period 2005 to 2008.
Design/methodology - An endogeneity problem arises when a firm’s probability of being selected is correlated with the likelihood of successfully implementing EPPs. To control for the endogeneity of the EPPs in a relatively short-period sample, we employ 2-Stage Residual Inclusion (2SRI) RE-Tobit and bivariate Tobit procedure.
Findings - Analyses show that Korean government EPPs have positive significant effects on SME exports. Empirical results also show that SME export activities are significantly encouraged by R&D investment and capital intensity, but not obviously by labor productivity.
Originality/value - This study provides evidence that SME capital intensity, R&D investment, and the number of workers are significant determinants to SME exporting activities, whereas per worker labor cost and employee education are not. These results imply that even for SMEs, firm size is a major factor in promoting exporting activities.
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KIM, LINSU, JEFFREY B. NUGENT, and SEUNG-JAE YHEE. "TRANSACTION COSTS AND EXPORT CHANNELS OF SMALL AND MEDIUM-SIZED ENTERPRISES: THE CASE OF KOREA." Contemporary Economic Policy 15, no. 1 (1997): 104–20. http://dx.doi.org/10.1111/j.1465-7287.1997.tb00458.x.
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Yeo, Young Hyun, and Sun Ja Kim. "A Study on the Evaluation of Government Work and the Evaluation of Local Public Enterprises." Korean Association for Local Public Enterprises 18, no. 1 (2022): 1–26. http://dx.doi.org/10.24020/kjlpe.2022.18.1.1.
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Korea is excessively and extensively evaluated, and the effectiveness of the public sector is lower than that of foreign countries compared to the level of formalization. In addition, as performance evaluation is perceived as a control means, evaluation results are not properly utilized. In particular, local public enterprises should reflect regional characteristics as they perform the function of local decentralization, autonomy and breakwater from changes in government. There is a problem with the evaluation method, which is not only an evaluation for local residents, but also an evaluation by local residents, that is, in terms of regional decentralization, the evaluation method that is becoming a means of achieving the purpose according to the government without evaluation flexibility and autonomy, and without reflecting regional characteristics. In order to solve this problem, local public enterprises need not only management for local residents but also incorporation of methods managed and evaluated by local residents First, public enterprises are not private enterprises, and the 'voluntary clearance of differences' of public enterprises that only consider efficiency like private enterprises is not management innovation for local public enterprises. The management method and performance evaluation of local public enterprises should essentially be changed to a stakeholder model by local residents. Second, in the case of local public enterprises, the process (P·D·S) model, planning, execution, and performance were decided as evaluations of a year, and the public interest index was added according to the policy necessity of the higher authorities, so that the pareto optimum of public interest and profitability suitable for the local or institutional measurement was not achieved. It should be changed to a content evaluation model, so that it can evaluate public interest and become easy to introduce a scientific method that determines effectiveness according to policy compliance. In particular, the proportion of public interest and profitability can be presented and reflected in the evaluation depending on the purpose of the institution's establishment. Third, the lack of meta-evaluation and evaluation of the efficiency and effectiveness of the proper systematic evaluation model after evaluation in the public sector is the result of the horizontal comparative evaluation according to the short-term goal of Korea's annual performance evaluation. The validity of the purpose of the evaluation of local public enterprises, the suitability of the evaluation model, methods or indicators, and the effectiveness of the evaluation needs to be verified.
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Piekut, Marlena. "Comparison of R&D Expenditures in Selected Countries." Comparative Economic Research. Central and Eastern Europe 16, no. 3 (2013): 107–26. http://dx.doi.org/10.2478/cer-2013-0021.
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This paper analyzes the level of innovation expenditures and R&D fund sources in selected countries of the world in the period of 2000 – 2010. The issues presented indicate significant differences between the discussed countries with respect to the factors analyzed. The European countries at the top were apparently Finland, Denmark and Sweden. High R&D expenditures, with a significant share in business enterprise sector, and a large number of patent applications reflected on the strong economic growth in these countries. The level of R&D investments in these countries was sometimes greater than in the USA or Japan. Dynamic growth in both R&D and patent activity has also been observed in South Korea. Special attention has been paid in this paper to the new European Union members – Central Eastern European Countries. Among this group of countries Slovenia definitely had the highest position, where R&D expenditures were the largest and the structure of R&D funds by source reflected a businessdominance type. Estonia, Czech Republic and Hungary were the countries ‘catching up’ – where growth in R&D expenditures has been observed as well as better dynamics of growth and higher patent activity. Romania, Bulgaria, Lithuania, Poland, Slovakia and Latvia had relatively disadvantageous situations in respect of R&D development and the innovative activity of business enterprises.
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Park, Chongryol, Ronald McQuaid, Jiwoon Lee, Seungjin Kim, and Insuk Lee. "The Impact of Job Retention on Continuous Growth of Engineering and Informational Technology SMEs in South Korea." Sustainability 11, no. 18 (2019): 5005. http://dx.doi.org/10.3390/su11185005.
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This study aims to explore what factors are critically associated with job retention in Engineering and Information Technology small- and medium-sized enterprises (SMEs) in South Korea, and how employers think about staff retention policy in relation to business growth. This contrasts with previous studies that mainly focus on employee motivation, job retention, and turnover. Qualitative semi-structured interviews were conducted face-to-face with founder Chief Executive Officers (CEOs). The results suggest that an important factor influencing job retention policies of these SMEs was to motivate employees to make greater voluntary effort, including through developing a collaborative organizational culture, rather than solely offering them additional financial rewards or using other Human Resource Management (HRM) practices to improve individual performances. Interviewees believed that job retention and business growth were closely related, and they discussed various ways of eliciting emotional commitment from employees. Unlike research on larger firms, these suggestions did not involve immediate financial rewards. How employers thought that the roles played by employees strongly influenced their firm’s productivity and competitiveness. This study suggests SME employers adjust their retention policy specifically to improve their firm’s survival and long-term growth.
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Won, Jeong Yeon, and Min Jae Park. "Smart factory adoption in small and medium-sized enterprises: Empirical evidence of manufacturing industry in Korea." Technological Forecasting and Social Change 157 (August 2020): 120117. http://dx.doi.org/10.1016/j.techfore.2020.120117.
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Chon, Soohyun. "Small and medium-sized enterprises in the Republic of Korea: Implications for the development of technology-intensive industries." Small Business Economics 8, no. 2 (1996): 107–20. http://dx.doi.org/10.1007/bf00394421.
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Shchetinina, L. V., S. H. Rudakova, N. S. Danylevych, and A. R. Tsiopa. "Quality of Working Life: Analysis, Evaluation, Prospects." Business Inform 2, no. 529 (2022): 126–31. http://dx.doi.org/10.32983/2222-4459-2022-2-126-131.
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The purpose of the article is to study the essence of the quality of working life as a method of managing a company; comparison of the quality of working life in Ukraine and South Korea; coverage of modern approaches to its development. As a result of the study, it is emphasized that the quality of working life, as a method of managing a company, is aimed at designing and creating a comfortable working environment for employees at all levels. The quality of working life is associated not only with satisfied employees, but also with the best business results. The latter are associated with the intellectual capabilities of employees. When the quality of work and life is stable, productivity surely will be increased, too. A comparison of approaches to the quality of working life in Ukraine and South Korea is made, allowing to conclude about the common and the different. It is defined that a very big difference lies in the attitude of personnel to work and etiquette rules between the staff in Ukraine and in South Korea. Korea has the highest rate of aging population among countries that are members of the OECD. At the same time, not only employees need to change, but also employers should develop a holistic well-being strategy for the future. Not taking this into account in the country’s social policy will slow economic growth, exacerbate inequality and weaken welfare, and call into question the sustainability of public finances and social well-being. The standard of quality of working life at Korean enterprises is supported by laws. Domestic employers, as a rule, introduce disparate and unsystematic measures that meet only the current needs of employees. It is determined that the COVID-19 crisis has provoked increased attention to the protection of the most vulnerable workers. It is concluded that the development of social protection of the population has contributed to a more gradual transition from the protection of jobs to the protection of workers, which, together with the enhanced active policy of the labor market, supports employment and productivity growth. Prospects for further research in this direction are to determine the degree of influence of mental and physical health of an individual on the quality of working life.