Korea’s automotive parts industry is transitioning toward future vehicle technologies amid shifts such as electrification, intelligence, and service-oriented mobility. To support this change, the government provides incentives for companies to restr...
Korea’s automotive parts industry is transitioning toward future vehicle technologies amid shifts such as electrification, intelligence, and service-oriented mobility. To support this change, the government provides incentives for companies to restructure. This study examines the business performance of firms before and after receiving government approval for restructuring. As restructuring in the future vehicle sector began in 2020, the sample size is limited. The study employs fuzzy set Qualitative Comparative Analysis (fsQCA), suitable for intermediate-size N cases, to explore combinations of technological and resource-based factors influencing sales revenue in 2019~2020 and 2023. Findings show increases in average R&D spending, total assets, total liabilities, and sales after approval, suggesting the positive impact of restructuring. The study offers insights into the effectiveness of government-supported restructuring and provides policy implications for sustained support to future vehicle parts firms.