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Birth and Survival of Regional Ventures: Comparison of Regional and Industrial Characteristics

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  • Yoon-Jun Lee

    (Science & Technology Policy Institute, Sejong National Research Complex, Sicheong-daero, Sejong-si, South Korea)

Abstract

In 1997, the Korean government enacted the Venture Special Act to designate ventures and to provide various supports in finance, tax, human resources and R&D. As a result, the number of ventures reached 31,260 as of the end of 2015. Although ventures are still concentrated in the Seoul, the capital city metropolitan area, the growth of regional ventures is significant, and thus it is forecasted that their share in regional economies will increase. Therefore, the purpose of this research is to identify the differences of the birth and survival of ventures in each region and industry, and to identify the characteristics that affect those differences. According to the analytical results, Korean government should make policies to encourage each megacity, province and metropolitan economic block to have variety of industries, rather than having them specialize in a particular sector.

Suggested Citation

  • Yoon-Jun Lee, 2017. "Birth and Survival of Regional Ventures: Comparison of Regional and Industrial Characteristics," Noble International Journal of Business and Management Research, Noble Academic Publsiher, vol. 1(5), pages 94-106, May.
    • Handle: RePEc:nap:nijbmr:2017:p:94-106
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    References listed on IDEAS

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