Chonnam has 42,798 workers employed by 2,220 small and medium enterprises as of the end of 1980. This number of enterprises comprises 99% of the end of 1980. This number of enterprises comprises 99% of total manufacturing industry of Chonnam Province. And the number of employees reaches its 65.4%. While the number of employees is increasing little by littel.
Foods, beverages & tobacco and chemicals-related products are specialized industries in Chonnam. However, the fact that there are no comparatively advantageous industries at all reveals an aspect of Chonnam's small business, that is, very week competitiveness. The structural characteristics of Chonnam's small business may be summarized like; (1) small size, (2) fragility, (3) backwardness, and (4) low productivity. ... (이하 생략)

As an extension of the export-led growth of national economy, overseas direct investment by Korean manufacturing firms has been rapidly increasing. This study is to explore the characteristics of development of the overseas direct investments by Korean small and medium manufacturing firms and the corporate strategies by which the Korean subsidiaries compete with lcoal companies and other foreign investment affiliated companies in the host countries.
Three main questions are raised to answer: What are thf firm-specific factors facilitating the Korean small and medium firms to invest abroad? Who are the competitors in the local markets and what are the competitive advantages the Korean subsidiaries have over their competitors? And what are the relationships between development of the overseas direct investments and transfers of technology from Korean firms to their counterparts in the host countries? The data for this study were gathered through structured interviews with the parent companies of 31 out of 54 manufacturing overseas subsidiaries and joint ventures formed by Korean firms, size of which varies from 500 or less to more than 1,000 in number of employees. ... (이하 생략)

The theoretical background of economic liberalization is based on the Heckscher-Ohlin theory of international trade. Once an economy is liberalised, the relative factor prices across countries will be equalized, as the Samuelson-Stolper theorem explains.
Since Korea is labor rich country, its industrial structure will become more labor intensive after liberalization. This will result in the creation of an economic environment which is facorable for domestic small and medium industries, as these industries are much more labor intensive than larger enterprises. This, in turn, suggests that the policy change toward SMI promotion will facilitiate high economic growth as well as export promotion in the future. ...(이하 생략)

The Korean economy achieved remarkable growth during the past two decades.
But the growth was made mainly in the real sector of the economy while the financial sector of the economy lagged when compated to the real sector. It was mainly due to the fact that the funds needed for rapid economic growth were not supplied from normal sources of domestic savings but from government-led inflationary savings and foreign savings.
In the course of mobilizing domestic funds, the government strongly intervened in financial intermediraries' fund management with restrictive measures such as arbitrary fixing of interest rates at a low level, directive to finance special industrial sectors, etc. ... (이하 생략)