Key Characteristics of Successful Korean Ventures: Entrepreneurship and High-Growth Firms

Abstract

Switching over to an innovation-driven economy is essential for the Korean economy and new start-ups are expected to take in charge of this process. Successful mid-sized ventures with revenues of more than $100 million already has established itself as new group of companies that supports the Korean economy by contributing to exports and job creation. In this paper, we analyzed these 182 successful ventures in Korea and tried to find out their key characteristics and secrets of success. As the first kind of research that analyzes the whole population of successful ventures, we expect that findings of this research offer implications for practitioners and policy-makers, not to mention of scholars.