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A Study of Business Transition Directions Based on Patent Data: Focusing on the Display and Automotive Industries

Author

Listed:
  • Nam, Sanguk

    (Korea Institute for Industrial Economics and Trade)

  • Oh, Seunghwan

    (Korea Institute for Industrial Economics and Trade)

Abstract

When firms anticipate a major change in the business environment or some kind of crisis, they often pursue some kind of business transition in an effort to overcome the challenge and discover new growth momentum. Rapid changes to the industrial environment such as COVID-19, carbon neutrality, and the digital transformation have made business transformation increasingly urgent. However, Korean small medium-sized enterprises (SMEs) have not adequately prepared to meet this challenge. According to a survey by the Korea SMEs and Startups Agency (KOSME), 85.4 percent of SMEs reported that management felt a need to change the structure of the business. Yet only 26.9 percent of firms were found to be making active preparations to do so. The industrial environment of the display and automobile industries in particular is undergoing a rapid change. Display industry manufacturers are switching to organic light-emitting diode (OLED) displays as the competitiveness of liquid-crystal displays (LCD) declines due to increased competition from China, and the automobile industry is rapidly shifting from internal combustion engine (ICE) vehicles to electric vehicles (EVs) due to the promotion of carbon neutrality policies. Domestically, both industries possess world-class technologies thanks to long-term R&D and investment, but they are in danger of losing demand for these technologies due to changes in the industrial environment. It is against backdrop which this study is set. In it, we examine the direction of business transformation based on technological capacity through an analysis of patent data. The dataset in question consists of information on SMEs’ patents in the display and automotive industries.

Suggested Citation

  • Nam, Sanguk & Oh, Seunghwan, 2023. "A Study of Business Transition Directions Based on Patent Data: Focusing on the Display and Automotive Industries," Industrial Economic Review 23-18, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:2023_018
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    Keywords

    business transition; restructuring; carbon neutrality; digital transformation; small and medium-sized enterprises; SMEs; SME growth; SME policy; display industry; automotive industry; industrial structure; SME technology; SME capacity; Korea;
    All these keywords.

    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D25 - Microeconomics - - Production and Organizations - - - Intertemporal Firm Choice: Investment, Capacity, and Financing
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L29 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Other
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment
    • L63 - Industrial Organization - - Industry Studies: Manufacturing - - - Microelectronics; Computers; Communications Equipment
    • L68 - Industrial Organization - - Industry Studies: Manufacturing - - - Appliances; Furniture; Other Consumer Durables

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