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Plans for improving the international competitive power of small industries according to changes in the economic environment
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- Authors
- Issue Date
- 1994
- Citation
- Korean Journal of Policy Studies, Vol.9, pp. 117-131
- Abstract
- Korean small industries are currently facing a good deal of changes in the
economic environment; (a) the industrial environment became more competitive
than as ever in that small industries have to compete with foreign industries
even for the domestic market; (b) developed countries are turning reluctant to
transfer their new technology; (c) rapid economic growth of other developing
countries are threatening us; (d) customer needs are becoming more and more
individualized and diversified; (e) the regulation of government concerning the
contamination of natural environment will be more strict. Because the only way
possible to overcome this situation is considered to be technological innovation,
many ways in which to enhance the level of our technology are provided and
discussed in detail. Due to to consideration of efficiency, introduction of foreign
technology is preferred by small industries rather than developing new technology
on their own. Many different ways of introducing foreign technology are
addressed including licensing, direct investment, co-investment, and venture
capital. It is emphasized that small industries should be able to put together its
own know-hows and introduced foreign technology in an synergistic manner by
which to maximize their international competitive power.
- ISSN
- 1225-5017
- Language
- English
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