مجلة التمويل والاستثمار والتنمية المستدامة
Volume 10, Numéro 1, Pages 325-335
2025-06-05
Korea’s Startup Renaissance A New Engine For Economic Development
Authors : Tebani Abdelfateh .
Abstract
South Korea's rapid economic ascent from one of the world's poorest nations in the early 1960s to a leading economy by the mid-1990s is a remarkable success story. This transformation, characterized by high per-capita income and world-class industries, was achieved within a single generation. The nation's economic structure has shifted from a manufacturing-based model to a service-oriented economy, with a notable increase in the number of small businesses and the participation of women and older workers in the workforce. However, the transition from a catch-up model to an innovation-driven economy presents new challenges, requiring a focus on productivity and the development of new growth engines. This paper explores the potential of startups as a key driver of economic development in South Korea, examining the factors that contribute to their success and the policies that can foster their growth. Keywords: Korean startups, startup ecosystem, entrepreneurship in Korea, innovation economy, tech startups, venture capital in Korea, economic impact, business growth, government policies, startup funding. GEL Classification: L26 (Entrepreneurship), O53 (Economy of Asia), M13 (New Firms; Startups), G24 (Venture Capital).
Keywords
Korean startups ; startup ecosystem ; entrepreneurship in Korea ; tech startups ; economic impact
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