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Fostering SMEs via Developing the Globally Competitive Human Capital -The Experience of Korea Ms. Christy Lee President & CEO Daewon Advisory Services.

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Presentation on theme: "Fostering SMEs via Developing the Globally Competitive Human Capital -The Experience of Korea Ms. Christy Lee President & CEO Daewon Advisory Services."— Presentation transcript:

1 Fostering SMEs via Developing the Globally Competitive Human Capital -The Experience of Korea Ms. Christy Lee President & CEO Daewon Advisory Services

2 Contents How Korea Made it? - Developing Globally Competitive Human Capital Fostering SMEs via Effective Training Key Lessons Learned & Implications to KSA Why Korea? Contents Fostering SMEs via Developing the Globally Competitive Human Capital Ms. Christy Lee

3 Why, on earth, KOREA? Aerial view of Seoul in 1950s Aerial view of Seoul Today

4 2. How Korea Made it? 3. Korean SMEs 4. Key Lessons Learned & Implications to KSA 1. Why Korea? Why Korea? Industrial Base was Totally Destroyed During the War - Korean War ( ) Average annual growth rate during the war : -19% Amount of damage : US$ 5.5 billion Total Civilian Casualties: 2.5 Million Seoul during the Korean War

5 Over 500 times GDP growth, 300 times trade volume growth (KRW BN, 1USD=1100KRW) GDP Growth (Nominal) USD 2BN (1970) USD 1,007BN (2010) (USD MN) Trade Volume (Source: Peter Drucker, Post-Capitalist Society Korea provides us a key example of an undeveloped nation without natural resources jumped into an industrial society, that we cannot discuss the history of 20 th century economic development excluding Koreas amazing economic development. Peter Drucker, Post-Capitalist Society Korea provides us a key example of an undeveloped nation without natural resources jumped into an industrial society, that we cannot discuss the history of 20 th century economic development excluding Koreas amazing economic development. USD 3BN (1970) USD 900BN (2010) Why Korea?

6 Small but Strong Economy Ship- building Memory Chip Lithium Battery AutoSteel World Rank Market Share 48%55%40%6%5% Korean Companie s Hyundai Heavy Ind., DSME Samsung, Hynix Samsung SDI, LG Chem Hyundai, KIA POSCO, Hyundai Steel Koreas World-Class Products (2011)

7 Emphasis on patriotism and self-sacrifice Determined leadership by suggesting clear visions My life for my country and for the people Thrift How Korea Made it? H.E. Late President Park, Chung-Hee (1917 – 1979 ) 2. How Korea Made it? 3. Fostering SMEs 4. Key Lessons Learned & Implications to KSA 1. Why Korea? President of Korea (16 yrs)

8 How Korea Made It? Instilling Pride & Honor Excelled in the Intl Youth Skill Olympics - Korea Wins Gold Medal 17 times ( ) Promoting Engineers and Skilled Technicians Promotion of Science & Technology – KIST, KAIST, Daeduck Science Park

9 How Korea Made It? Monthly Export Promotion Meeting Presided by the H.E. Late President Park, Chung-Hee Close Partnership: Government & Private Sector

10 SAMSUNG GROUP Founder & Chairman: Lee, Byung Chul ( ) Samsung Groups Opening of Shared IT system: 1974 Samsung has clear standards when deciding a new business ; national needs, sympathy of Korean people and potential for global competitiveness. Considering this, we will develop a semiconductor business.

11 Korean Education President Obamas View on Korean Education "In South Korea, teachers are known as nation builders. I think it's time we treated our teachers with the same level of respect right here in the United States of America." In the space of a little more than a generation, [South] Korea has developed one of the worlds best- educated workforces and fastest- growing economies.

12 Small and Medium Enterprises Affiliated government organization Guarantee agencies Financial Institution Execution of SME policies Financial support Consulting & Training Execution of SME policies Financial support Consulting & Training Financial support Management consulting Financial support Management consulting Provision of guarantee Management consulting Provision of guarantee Management consulting Overview of Korean SME Organizations Investment of Venture capital Education Investment of Venture capital Education Financial support for Micro Enterprise Start up fund Start up consulting Training for Micro Enterprises Financial support for Micro Enterprise Start up fund Start up consulting Training for Micro Enterprises

13 Status of Korean SMEs SMEs 2. How Korea Made it? 3. Fostering SMEs 4. Key Lessons Learned & Implications to KSA 1. Why Korea?

14 New Governments Policy Goals for SME New Governments Policy Goals for SME support Shared growth between Conglomerates and SMEs R&D Support for SME Procurement Fair opportunities for market entry

15 Start-Up Academy Practical training for new start-ups & for youth entrepreneurs E-Learning Training Online courses on start-up, management, & case studies of successful businesses Management Improvement Training Training on management improvement to foster ability to cope with sudden changes. SEDAs Training Programs for Micro – Enterprises

16 Innovation Academy ($7Mil support for 24,000 in 2013) Practical training for start-ups Training for those who want to switch the business to another business area Youth Entrepreneurs start-up in overseas SEDAs Training Programs for Micro – Enterprises

17 Management Improvement Training ($7.8Mil for 53,000 in 2013) Sector Specific Training: 1,555 Region Specific Training: 300 Micro-Enterprise Innovation Academy: 500 SEDAs Training Programs for Micro – Enterprises

18 Training Programs Innovation Training2461,00511,841101,596 Management Improvement Training -23,414112,094104,126 E-learning Training--75,059338,088 Total24624,419198,994543,810 Category'05'07'09'11 Budget(100 million KRW) Number of Consulting1,1022,6348,7647,645 Legal Aid Category Ratio of enterprises with increased revenues 43.0%60.0%58.2% Revenue increase rate--3.8% Satisfaction Level76.3%84.5%83.5% SEDA Support for Micro- Enterprises Training Supports Results

19 SBC Support for Youth Entrepreneurs One-stop training center to nurture young CEOs by providing all the resources needed for starting a business: (300 CEOs per year) Start-up training R&D support Prototype production Start-up loans after training period 2013 Budget: $23 million (Support up to: $100K/person) Youth Entrepreneurship Training Program

20 Clear and Shared Vision: Communicate with your people A Dedicated Government Agency was effective Close Partnership between Government & Private Sector Ensure strong execution of policies: Speed matters! Foster a spirit of competition and enhance efficiency Educate, Educate, Educate! Key Lessons from Korea and Implications for KSA Key Lessons from Korea and Implications for KSA

21 Learning Journey to Korea: Incubating & Fostering SMEs Visit to Leading SMEs with Innovative Technologies in Korea

22 Mr. Rashid Al Nuaimi, Vice President, Human Capability, GASCO Thank You


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