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정진섭 ( Jin-sup Jung ),이정화 ( Jeong-hwa Lee ),윤영호 ( Young-ho Yoon ),이민재 ( Min-jae Lee ),변문석 ( Moon-seok Byoun ) 한국중견기업학회 2015 중견기업연구 Vol.5 No.1
The world economy has yet to bounce back since the financial crisis in 1998. Korean economy has also showed constant domestic economic downturn, while facing the crisis perpetuating low growth in long-term due to export-oriented industrial structure and the polarization between large firms and small and medium-sized enterprises (SMEs). In this context, the cultivation of mid-sized enterprises (MSEs) having innovation capabilities and growth potential in the global market can be the one way for economic recovery, job creation and sustainable growth. Korean government has announced a series of laws and financial measures supporting MSEs which are regarded as the key player in economic growth. Starting from “Construction of MSEs Grow Ladder” formulated in September 2013, the government has announced “Special Act on the Promotion and MSEs Growth and Competitiveness’, “World-Class 300 Training Measures”, “Korean-typed Hidden Champion Promotion Measures” and “Prestigious Long-Lived Company Promotion Measures” in 2014. This study investigated public policies and several measures supporting MSEs based on concept of the ladder SMEs→MSEs→large enterprises. Using Michael Porter’s Diamond Model, this study provides the four important implications regarding MSEs activation and competitiveness. First, since CEO’s leadership, capital and R&D sectors are the core factor conditions for MSEs’ competitiveness, it is necessary for the proper execution that meets the internal and external environments. Second, market expansion is the core demand condition for the competitiveness. Hence, the government should establish political and financial measures inducing market exploitation on the one hand, and MSE’s should set up right strategies for market exploitation and secure an outstanding workforce on the other hand. Third, the government should systemize business growth through the ladder model and promote cooperation among SMEs and MSEs, while continuously reviewing and supplementing the existing laws and regulations for MSEs through coordinating between governmental departments and business sectors. Fourth, the government should construct the network and cluster for the promotion of MSEs through the coordination among the agencies concerned. Especially, SMEs Administration, Association of Medium-sized Businesses and Korea Industrial Technology Association (KIAT) should clarify the subject of aspects such as support for the growth of MSEs, and try to create synergy effect by facilitating active cooperation among university and industry.