Nak Ki Baek
Until the late 1970s Korean Government policy had been to promote the growth of large-scale industry. A growing demand for parts and components by heavy industry, however, has been met by small and medium enterprises, supported by a number of government measures. More recently the government has also supported investment in and research by SMEs involved in technology-intensive industries, where the value-added is greater. This article reviews the policies that have been implemented and comments on their success.