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[2022-01] Societal Development Pathway for the Startup Ecosystem in South Korea : How deeply does the social status of startup ecosystem depend on polices?

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  • 날짜 2022.08.23
  • 조회수 95
[2022-01]
 
Societal Development Pathway for the Startup Ecosystem in South Korea :
How deeply does the social status of startup ecosystem depend on polices?
 
Oh, Keewoong
Moon Soul Graduate School of Future Strategy, KAIST
 
Seo, Yongseok
Moon Soul Graduate School of Future Strategy, KAIST

Abstract
Korea's startup ecosystem has grown rapidly until now, but the number of study results on characteristics of startup ecosystem at the group level is very small. In particular, studies which have properly traced the process of changes in the ecosystem itself are rare. This study aimed to analyze the path taken by the Korea’s startup ecosystem based on data accumulated over the past 30 years and to predict future prospects based on the analyzed results. We first traced important causes of determining the scale of governmental support on Korea's startup ecosystem. When the ‘Korea’s startup ecosystem’ was presented as a target population with a lens of the Social Construction Framework, we found that change in a scale of the governmental support significantly depended on ‘political power’ and ‘social image’. Additionally in this analysis, when examining the ‘Korea’s startup ecosystem’ from the collective point of view, we also found that it has undergone changes into the Advantaged group after going through an Deviants, Dependents, and Contenders. In addition, we also aimed to figure out the key driving forces behind the changing social construction of the Korea’s startup ecosystem. The results of such a study showed that a ‘rapid change in startup and venture policy itself’ served as a focusing event and had a great impact on changing the social status of Korean startup ecosystem. Accordingly, in order to achieve continuous development of Korea's startup ecosystem, this study presented that it is necessary to make an effort to further strengthen a 'social image' of the group contributing economically and socially and to form an amicable relationship with policy-deciding actors such as the National Assembly and the government based on such a positive image.
 
Keywords: Startup Ecosystem, Social Construction, Government Support, Budgetary Benefits, Focusing Event
 

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