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Redefining the Korean Entrepreneurship and Proposing Policies for SMEs that Want to Work: Focusing on Implications of Hwang Chul-Joo’s Entrepreneurship and Humane Entrepreneurship

Kim, Ki-chan

The Catholic University of Korea

Published: January 2021 · Vol. 25, No. 4 · pp. 45-66
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Abstract

This study is to redefine Korean entrepreneurship and corporate purpose, in line with the second era of startups. To this end, case analysis and the actual situation of Korean entrepreneurship are analyzed. Based on the case analysis of Chul-Joo Hwang entrepreneurship and humane entrepreneurship, the direction of future SME policy is proposed. SMEs & Startup policies should be directed towards the second era of startups. The key elements of entrepreneurship in the first era of startups were individual entrepreneurship and economic wealth. However, the core element of entrepreneurship in the second era of startups should emphasize the participation and innovation of employees as well as the challenge by individual entrepreneurs. It should aim for social value creation and be humane entrepreneurship. The Korean economy in the second startup period should pursue a first mover, not a fast follower. Entrepreneur Hwang Chul-Ju of Jusung Engineering is well-practicing this innovative growth direction. Jusung Engineering developed 18 world-first technologies, and 67% of all employees are R&D personnel. They are pursuing innovative growth with a creative leadership strategy. Jusung Engineering is characterized by a corporate culture that enables employee competency, the world's first innovation pursuit rather than imitation technology, reinforcement of intraentrepreneurship, and win-win growth with the ecosystem. Based on these cases, this study redefines the Korean entrepreneurship of the second startup period and proposes policies for SMEs that Want to Work. The main conclusions are as follows. First, the SMEs & Startup policy in the second startup period should be changed from quantitative expansion of startups to qualitative scale-up, and from a policy promoting TEA (Total Early-stage Entrepreneurial Activity) to a policy strengthening EEA(Entrepreneurial Employee Activity) and intrapreneurship. Second, the Korean entrepreneurship of the second startup period should no longer belong only to the CEO, founders, and entrepreneurs, but to belong to the employees, business partners, society, and even the people. Korean entrepreneurship is not about making money for shareholders, but about solving social problems and aiming for social values for a better society. Third, in the second startup period, it is urgent to establish a corporate culture that enables humane entrepreneurship and employees to enable their capabilities. To this end, we propose a ‘SMEs & Startup that wants to work’ as a corporate culture policy that can create a virtuous cycle between corporate growth and employee growth. Fourth, the start of entrepreneurship aims for challenge and success, but the end should be shared to contribute more to society. The direction and philosophy of business administration should also develop and spread examples of entrepreneurs who activate this sharing.
Keywords: 한국적 기업가정신사내기업가정신일하고 싶은 중소벤처기업사람중심 기업가정신주성엔지니어링황철주