The system crisis in the US financial market in 2007 spread to Korea. and then external financing of SMEs became more difficult in 2009. This paper to analyze the effect to increase SMEs’ government-supported funds drastically contributes to the academic literature in two ways. First, it shows that the proportion of the current government-supported SMEs’ finance is insufficient for the inclusive financial level for SMEs in developed countries. For the first time in Korean academic literature, it explains the difficulty of SMEs’ accessing financial markets through the distribution of credit ratings instead of abstract market failure and asserts the need for policy funds. Second, by ing only the manufacturing enterprises surveyed by four SMEs’ policy-supported institutions-Small and Medium Business Corporation (SBC), Korea Credit Guarantee Fund, Korea Technology Finance Corporation (KIBO), and Kores Federation of Credit Guarantee Foundations-, their increases under the system crisis contributed greatly to external financing of SMEs. Before and during the financial crisis, SMEs' government-supported funds play an important role in determining the financial access of SMEs, and these financial institutions increase the proportion of inclusive financing for SMEs in Korea. Empirical findings in this paper show that, in the 2009 system crisis, SBC’s’ funds and IBO’s funds have a statistically significant effect on the bank borrowings of SMEs. Government-supported SMEs’ funds can be interpreted as creating complementary effects in financial markets. Especially, SBC’s direct loan as well as Kibo’s guarantees and SBC’s surrogate loans made important contribution to recovering the financial intermediation for SMEs under the systemic risk. SMEs’ government-supported funds in 2009 in which systemic risk occurred were crucial in making their external financing and inclusive growth. They will also make future sytemic risk in the small open economy like Korea.

This study captures the possibility that entrepreneurs can become an employee in a traditional organization (a company). Acknowledging that the career change from self-employment to salary-employment is not a trivial decision, we investigate how this career path can be made. As an exploratory approach, we take
a social psychological perspective; in particular, we posit that entrepreneurial costs can affect the “getting-back” career decision. Given that career changes can be considered as a boundedly-rational choice, we claim that when the entrepreneurs are perceived as being stigmatized, these transaction-related costs will further engage in the “getting-back” career decision. To test these ideas, we sample 254 respondents from the database of Korea Education & Employment Panel (KEEP) and estimate the hazard ratio that an entrepreneur, who used to be an employee, becomes an employee with respect to entrepreneurial costs. With the results, we discuss how career changes (especially getting back to salary-employment) can be made through social evaluations of the entrepreneurs.

This paper aims to address changes in the structure of the South Korean industry and its workforce the 4th industrial revolution brings about and offer policy advice on the country’s labor strategy to help them get ready for such changes. To that end, we first identify five specific industry sectors which are expected to grow rapidly with the 4th industrial revolution-namely, transportation and logistics, telecommunications, finance and insurance, education services, and health and social services- and examine characteristics of these industries along with specific examples to derive plans for job creation and job security. New jobs will be created around the technologies which have led the 4th revolution such as Block Chain, Big Data, Internet of Things, Machine Learning, Artificial Intelligence, Augmented/Virtual Reality. The government needs to equip its workforce with these technologies in order to cope with the changing demand actively. When devising plans to create jobs and secure workforce, it is important to pay special attention to SMEs since they often do not feel the pressure for innovation as much as the large firms do, yet they account for the majority of the Korean economy.

This study focuses on the role of demand among growth drivers of small and medium enterprises. In particular, this study regards participation in the public procurement programs as a particular form of demand shock. Then we hypothesize that the higher the procurement dependency, the higher the growth rate. We discuss the following mechanisms: public relations and signaling effects, stimulation of technology and quality, mitigating effects of market uncertainty, and economies of scale and learning effects. As a result of analyzing and 644 participating SMEs of Korea's Excellent Product Designation Policy from 2011 to 2016, we found a supporting evidence for the hypothesis. However, the growth effects of the public procurement participation tend to weaken over time. In conclusion we discuss the contributions
and limitations of this study on the literature about the role of demand on firm growth, on one hand, and demand-oriented public procurement, on the other hand.

Recently, green supply chain management has emerged as an important research topic, receiving increasing interest in the sustain ability management and inter-firm relationship area. But previous studies have paid little attention to the effects of partnership between (large) manufacturers and small & medium suppliers on green supply chain management. The study aimed to examine the effects of profit and
information sharing between manufacturers and small & medium suppliers on manufacturers’ green supply chain management. The sample populations used in this study were 68 major Korean manufactures. The findings showed that profit sharing between manufacturers and small & medium suppliers was positively related to manufacturers’ green supply chain management. The findings further demonstrated that manufacturers’ internal readiness of green management was positively related to manufacturers’ green supply chain management. However, the study showed low positive effect of information sharing on manufacturers’ green supply chain management. The study discusses the underlying reasons for these findings and derive implications for the theory and practice. The study not only enriches relational exchange theory but also provides new insights into supply chain management for companies and policy making authorities.