17/06/2026
In the South Korean economy, large corporations have served as the core engine of growth and must continue to do so. Deep-rooted anti-business sentiment in South Korean society and accumulated regulations not only constrain the competitiveness of large corporations but also block the emergence of new large corporations. In an institutional environment where regulatory burdens rise sharply and benefits disappear as firms grow larger, it becomes a rational choice for Small and Medium-Sized Enterprises (SMEs) and Mid-Sized Enterprises to engage in growth avoidance. The real problem of the South Korean economy is not that there are too many large corporations, but that new large corporations are unable to emerge. A sustainable industrial ecosystem is not created by suppressing large corporations. Only a free, competitive order in which growth and innovation are rewarded can serve as a solid foundation for a sustainable industry.
https://www.keaf.org/en/book/EAF_Policy_Debates/The_South_Korean_Economy_and_Large_Corporations_Toward_a_Sustainable_Ecosystem