Origin of Korean entrepreneurship

Ayman El Tarabishy, Joon Oh, Kyoo-Il Jo and KiChan Kim

Journal of Small Business Management, 2024, vol. 62, issue 2, 1084-1106

Abstract: South Korea is known for its highly developed economy, which has undergone significant growth and transformation over the past few decades. As a result, South Korea is now considered one of the world’s most prosperous and dynamic economies, with a strong focus on innovation, technology, and exports. Research has attributed Korea’s economic success to several factors: its government monetary policy, entrepreneurial business owners, a productive labor force, an education-oriented Confucian culture, and favorable international trade. This paper focuses on Korea’s global emergence through a historical exploration of Confucian influence and the teachings of renowned Korean philosopher Nammyeong Jo Shik. Our article proposes that Jo Shik is the father of Korean entrepreneurship. Jinju City, where Jo Shik promulgated his most influential teachings, may be the birthplace of Korean entrepreneurship. This city is the home of the first-generation founders of Korea’s leading global companies, such as Samsung, LG, GS, and Hyosung Corporation.

Date: 2024
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DOI: 10.1080/00472778.2023.2218450

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