English, Article, Journal or magazine article edition: Venture Capital Policies in Korea Günseli Baygan

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Bookmark: http://trove.nla.gov.au/version/146748
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Venture Capital Policies in Korea
Author
  • Günseli Baygan
Physical Description
  • preprint
Notes
  • The Korean venture capital market has grown dramatically in recent years, starting from a negligible base in the early 1990s and almost tripling between 1998 and 2001. Korea now ranks among the leading OECD countries in venture capital investment as a share of GDP. Korea weathered the severe financial crisis of 1997-98 to face the challenge of reducing the influence of large corporations (the chaebol ) and augmenting the role of technology-oriented small firms. The government jump-started the venture capital market in 1998 through direct infusion of equity capital, generous tax incentives and equity guarantees, and the designation of certain small firms as “venture businesses”. Concerns relate to the need to further privatise the venture capital system and to increase the supply of investment-ready small firms. This paper analyses trends in Korean venture capital markets and makes policy recommendations which have been developed through an OECD peer review process ... Politiques de capital-risque en Corée Le marché coréen du capital-risque, d’importance négligeable au début des années 1990, s’est très fortement développé ces dernières années : il a presque triplé entre 1998 et 2001. En pourcentage du PIB, la Corée se situe désormais parmi les pays de l’OCDE les plus avancés pour ce qui concerne l’investissement en capital-risque. La Corée a subi la forte crise financière de 1997-98 et a réussi à relever le défi consistant à réduire l’influence des grandes entreprises (les chaebol ) et à accroître le rôle des petites entreprises de technologie. En 1998, le gouvernement a pris l’initiative de développer le marché du capitalrisque en procédant à des injections directes de capitaux, en octroyant des aides fiscales et des garanties du capital généreuses, et en accordant à certaines petites entreprises le statut d’« entreprises à risque élevé ». Les sujets de préoccupation sont essentiellement la nécessité de privatiser davantage le système de capitalrisque et celle d’accroître le nombre ...
  • RePEc:oec:stiaaa:2003/​2-en
Language
  • English
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