“Korea’s entrepreneurial spirit is lower than that of advanced countries, and has continued to decline since the 1980s”

FKI Hall in Yeouido, Seoul. material photo

In the eyes of domestic business scholars, Korea’s entrepreneurship is far below that of advanced countries, and it has been evaluated that it has continued to decline since the 1980s. The first reason for the low entrepreneurship was ‘a social atmosphere that does not tolerate failure’. According to the results of a survey on entrepreneurship by the Korea Federation of Business Entrepreneurs on the 21st of 175 members of the Korean Business Association, 9.7% and 60.6% responded that entrepreneurship was ‘very low’ compared to advanced countries. . ‘High’ 27.4% and ‘Very High’ 2.3%. As for the reasons for the low, ‘social atmosphere that does not tolerate failure’ (23.2%), ‘negative perceptions of entrepreneurs and entrepreneurs’ (17.1%), ‘young and middle-aged people prefer stable jobs’ (15.0%), ‘businesspeople’s willingness to take risks’ Shortage’ (13.4%) and ‘government regulation restricting business activities’ (11.8%).

When asked to rate entrepreneurship by period, before 1970, the average score was 6.3 out of 10. The score was 6.3 points in the 1980s, 6.1 points in the 1990s, 5.7 points in the 2000s, and 5.3 points in the 2010s. As a task for demonstrating entrepreneurship, the most frequently asked question was ‘creating a positive perception of entrepreneurs and entrepreneurs’ (24.0%). Next, ‘providing an opportunity to try again after business failure’ (20.9%) and ‘relaxation of regulations restricting business activities’ (20.3%) were selected.

As an important issue in the current business environment, reorganization of the global supply chain (30.3%) was cited as the top priority. It was followed by digital transformation acceleration (29.7%), ESG management (21.7%), and changes in consumption trends (17.7%). Creativity and innovation (40.6%), ability to cope with crisis (29.7%), and a sense of challenge (12.0%) were mainly cited as the most necessary entrepreneurship in the current environment. Representative entrepreneurs who have demonstrated creativity and innovation necessary for the current business environment include Chairman Ju-Young Chung (34.3%), Chairman Lee Kun-Hee (21.1%), Chairman Lee Byung-Chul (17.1%), Chairman Park Tae-Jun (7.7%), and Chairman Koo In-Hoe (5.7%) was mentioned as Compared to developed countries, 62.3% answered that the business environment is bad (‘very bad’ 10.3%, ‘bad’ 52.0%). ‘Good’ 33.1% and ‘Very good’ 4.6%. The reasons for the evaluation that the business environment is lagging were mainly the burden of corporate regulation (39.4%), the increase in employment costs (31.7%), and trade-related uncertainty (12.8%). The next government task to improve the business environment was easing corporate regulations (34.0%), flexible employment of companies (26.0%), and support for overseas market development and customer diversification (14.0%). By Kim Young-bae, senior staff reporter [email protected]


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