TY - JOUR
T1 - Korea's venture business policy and its implications for developing countries
AU - Lee, Yae Jin
AU - Mah, Jai S.
N1 - Publisher Copyright:
© 2018 Inderscience Enterprises Ltd.
PY - 2018
Y1 - 2018
N2 - Recognising the importance of technological growth, the Korean Government has tried to promote venture businesses through financial and tax incentives as well as infrastructure provision. The number of venture businesses increased rapidly during the mid-2010s. Although the number of M&As has grown, that of venture businesses funded mostly from venture capital remains low, which is a challenge to be addressed. The experience of Korea regarding the venture business promotion policy provides policy implications for countries, middle-income developing countries in particular, trying to promote venture businesses. Among others, a government policy that relies heavily on large firms may lead to structural problems. Developing countries that lack institutions promoting venture businesses need to introduce and/or strengthen policy measures and institutions such as venture capital, tax incentives, credit guarantee schemes, angel investment, crowdfunding and M&As for exits.
AB - Recognising the importance of technological growth, the Korean Government has tried to promote venture businesses through financial and tax incentives as well as infrastructure provision. The number of venture businesses increased rapidly during the mid-2010s. Although the number of M&As has grown, that of venture businesses funded mostly from venture capital remains low, which is a challenge to be addressed. The experience of Korea regarding the venture business promotion policy provides policy implications for countries, middle-income developing countries in particular, trying to promote venture businesses. Among others, a government policy that relies heavily on large firms may lead to structural problems. Developing countries that lack institutions promoting venture businesses need to introduce and/or strengthen policy measures and institutions such as venture capital, tax incentives, credit guarantee schemes, angel investment, crowdfunding and M&As for exits.
KW - Developing countries
KW - Korea
KW - Policy
KW - Venture business
UR - http://www.scopus.com/inward/record.url?scp=85058426341&partnerID=8YFLogxK
U2 - 10.1504/IJPP.2018.096694
DO - 10.1504/IJPP.2018.096694
M3 - Article
AN - SCOPUS:85058426341
SN - 1740-0600
VL - 14
SP - 343
EP - 359
JO - International Journal of Public Policy
JF - International Journal of Public Policy
IS - 5-6
ER -