Strenthening Competitiveness of Family Business

Abstract

During the last two decades, Korea has achieved a rapid economic growth at the average rate of 8.4% per annum and various changes in political, social, and economic aspects have been occurred while many a new problems have been emerged. In the process, the development of small and medium

business becomes one of the many problems which need urgent national

attention in Korea. Especially, it is well known fact that Korean economic development has been led by large Korean conglomerates of about 100 companies with the guidance of the Korean government. There has been support of major financial resoruces to these conglomerates and important business undertakings were assigned to those large companies.