• Journal of the Economic Geographical Society of Korea
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• v.14 no.1
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• pp.86-98
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• 2011

Venture capital companies and funds play the following roles: to find small and medium-sized enterprises(SMEs) which face equity gap but possess high-growth potential, to make equity investment in such SMEs, and to intensively support the invested firms' growth in order to gain the maximum profits from the investment via maximization of the firms' values. This work discusses the issue of how such roles of venture capital can be used in a stable manner within individual non-Capital regions of Korea for fostering the start-up and growth of promising SMEs and thereby advancing local/regional economic development. The principal portion of my discussion deals with Regional Venture Capital Fund(RVCF) of UK and its policy implications for the Korean context. Additionally, the work conceptually explores roles of venture capital and local/regional development, and it empirically examines how such venture capital's functions are recently used for the business start-up and growth in the non-Capital regions of Korea.

• CDE review
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• v.5 no.3
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• pp.39-41
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• 1999

우리 기술신용보증기금은 중소·벤처기업의 기술개발을 촉진하여 우량기업으로 성장·발전할 수 있도록 기술평가를 통한 신용보증 등 각종 지원사업을 수행하고 있다. 특히 각종법률에 의한 기술가치평가기관으로 지정되어 전국 7개 지역에 기술평가센터를 운영하고 있으며 동 센터에서는 기업이 보유하고 있는 기술에 대한 기술가치 및 사업성평가등 기술력 평가업무를 전문적으로 수행하고 있다. 최근 중소기업청, 정보통신부등의 중앙부터와 경기도등의 지방자치단테에서 추진하고 있는 중소기업 및 벤처창업 지원 관련한 우리기금의 업무 및 고유업무를 간략히 소개하고자 한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.4
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• pp.37-47
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• 2013

This study investigates regional financial markets and proposes some policy measures for boosting up the regional financial system. Financial supports for start-ups, small and medium sized enterprises(SMEs) in early stage growth have been constrained due to expanded financial gaps among regions during financial restructuring period. The bank consolidation through M&A is associated with widening financial gaps between Seoul area and others, and between regions where regional banks survives or not. Loans to small firms are associated with relationship lending techniques that may be better supported by smaller regional banks. The loan rate to SMEs in locals where regional banks are activated has tended to be 10%point higher than the locals where regional banks closed, and also drive the greater contribution for preventing local capital outflow and promoting local capital investment by local penetrating strategy. Government should develop regional financial policies to boost up regional financial system, and expand the business area of regional financial institutions for supporting start-ups and SMEs.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.179-190
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• 2019

To alleviate financing difficulties of small and medium sized enterprises (SMEs), the government and municipal governments are providing a variety of SME policy funding programs. This study introduced the policy funding program of Gangwon-do and quantitatively analyzed the financial performance of companies supported by the Gangwon-do SME policy fund in the year 2014. Specifically, we compared the financial ratios for three years, from 2013 to 2015, between funded firms and non-funded firms. In addition, we applied a regression analysis to see if the policy funding program contributed to profitability (the operating profit growth and return on equity), stability (the interest coverage ratio and debt-to-equity ratio), and growth (the asset growth and sales growth) of the funded firms. The empirical results show that the firms that received the policy funds did not show any improvement compared to non-funded firms in terms of profitability, stability, and growth. This suggests that Gangwon-do should improve the policy funding program, that currently provides only an interest amount of 2-4% of the corporate loan principal, without any strategic selection criteria for the target funded firms, and without any follow-up management system, after support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.1
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• pp.133-151
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• 2007

In the era of 21st new century. reinforcement of regional competitiveness by establishing innovation system is taking its place of main small and medium sized enterprise policies in major developed countries. The model of regional balanced development for promoting small and medium sized enterprise is a main frame of governmental small and medium sized enterprise policies. which complements national innovation process. And in the level of local area, the model is regional network system, molded in the process of induction, application, modification, proliferation of new technologies and knowledge by local businessman and innovators. This study focused on the strategy development for small and medium sized businesses to increase local competitive power, in terms of regional balanced development. In order to find the real problems and improvement alternatives for local competitive power, this study both reviewed the common strategies and action programs advanced in developed countries for small businesses, and did research on the current economic conditions in local area. Based on the lessons from foreign cases and the analysis of the current situations in small business in local area, the study suggested the model of regional balanced development for promoting small and medium sized enterprise including formation of innovation network system through the invitation of leading firms in the area, industry-university partnerships, and development and attraction for small and medium sized businesses.