Korea's experience in developing small and medium enterprises and lessons learned for Vietnam - 14

First, businesses must develop brand creativity. Businesses need to entrust strategic planning and brand creation to experts with the aim of becoming appraisers, using consulting services such as: creative brand development consulting, legal consulting, business consulting and strategic planning, advertising and communication consulting, and monitoring consulting service providers. Using this service will bring better things to businesses.

Second, building a brand must arouse customers' emotions. To build a brand that customers trust, businesses need to understand their customers better than anyone else, and always put customer satisfaction at the heart of all activities.

Third, businesses must consider brands as a tool to protect their interests. To do this, they must first extend the brand by using the established brand of this product for another product category that shares the same skills, or create a new product that complements the existing product to increase the satisfaction and perception of the target customers with that product.

Fourth, raise awareness of trademark protection. Enterprises also need to realize that they are the subjects in intellectual property relations. Trademarks and designs of exported goods are the assets of enterprises. Therefore, registering industrial property and registering exclusive trademarks to protect the rights and legitimate interests of the brand in markets where enterprises have investment and business strategies is very necessary.

2.8 Strengthening cooperation between SMEs and between SMEs and large enterprises

Experience in developing SMEs in many countries, especially in Korea, where large economic groups (Chaebols) play the role of “locomotives” in the economy, shows that with a low starting point and low competitiveness, SMEs certainly will not be able to compete with large enterprises and transnational corporations (TNCs). Therefore, to survive, economic linkages must be strengthened. We must choose to run a relay race instead of each person running on their own.

When businesses of the same rank join hands to form a tightly linked economic network, it will allow businesses to share input factors such as labor, machinery, factories, raw materials, spare parts, etc. Thanks to that, the production and business costs of each member business will be reduced, production capacity will also increase, allowing them to meet large value orders.

From the customer's perspective, foreign enterprises when looking to place orders in Vietnam often encounter many difficulties when contacting enterprises. However, this will become easier when there is an information cluster. Specifically, when enterprises are closely linked together, they will form a common information source to help customers and domestic and foreign trade intermediaries easily access manufacturing enterprises... In addition, from the perspective of the overall economy, business linkages for both input and output as well as industry linkages will significantly reduce transportation costs, increasing the competitiveness of that group of goods in the locality.

To link well, it is necessary to gather into a business organization, such as industry associations or regional associations to coordinate activities. And to enhance the role and effectiveness of associations, it requires member businesses to raise awareness, actively participate in building and operating the associations they participate in.

In addition, to expand economic linkages, SMEs in each province and city should proactively cooperate with large enterprises of different economic sectors. Experience from Korea and many other countries shows that large enterprises and SMEs can have a symbiotic relationship, not compete to destroy each other. Small enterprises can be subcontractors for large enterprises, and large enterprises can help small enterprises in planning business development strategies, product strategies, personnel training, technology, etc. The linkage between enterprises will increase the competitiveness of all enterprises and also increase the chances of survival and success of each enterprise.

CONCLUDE

Nowadays, in most countries from developed economies such as the US, Germany, Japan, the EU and newly industrialized economies such as Korea, Taiwan, Singapore to developing countries such as Thailand, Malaysia, India and some other African countries, all agree with the view that SMEs have been playing a very important role in the economic development of each country. This role is not only reflected in the contribution of the SMEs sector to economic growth, job creation and income increase for workers, but is also affirmed through the role of promoting economic restructuring, being an important supplementary force for economic gaps, with the role of satellite enterprises contributing with large enterprises to make the national economy stronger and stronger in the international arena.

In Korea, SMEs began to receive attention and development since the mid-1970s of the 20th century. Although they were born in a difficult economic environment, the formation and development of SMEs in Korea has achieved many great successes, contributing significantly to the industrialization of this country. However, in addition to the achievements, Korean SMEs still have many shortcomings that cannot be overcome.

For Vietnam, 2008 is the second year since Vietnam officially became a member of the World Trade Organization (WTO). From here, our economy has truly begun to deeply integrate into the world economy. Learning from the experiences of other countries to find the right and suitable development direction for all types of enterprises, including SMEs, is the top concern of the Party and State of Vietnam. However, certain differences in natural conditions and socio-economic conditions make it impossible for us to copy the business development model of other countries in general and Korea in particular, but we must study, consider and evaluate their experiences to find our own direction, building an SME development model with our own national characteristics.

LIST OF REFERENCES

Vietnamese Reference List

1. Korean Studies Research Board (2002), Translated book The Rising Korean Economy, Statistical Publishing House.

2. . Le Xuan Ba, Nguyen Huu Thang, Tran Kim Hao (2006), Small and medium enterprises of Vietnam in the conditions of international economic integration, National Political Publishing House.

3. Pham Van Hong (2007), PhD thesis Development of small and medium enterprises in Vietnam in the process of international integration.

4. Phan Trong Phuc (2007), Monograph Improving the competitiveness of small and medium enterprises in Vietnam , Science and Technology Publishing House.

5. Vietnam Chamber of Commerce and Industry (VCCI) (2008), Draft Vietnam Enterprise Report 2007, National Political Publishing House.

6. Vietnam Chamber of Commerce and Industry (VCCI) (2007), Vietnam Enterprise Report 2006 , National Political Publishing House.

7. Tran Lan Huong, World Economic Institute (2002), Small and medium enterprises in the economic crisis in Korea, Journal of world economic issues No. 4 (78) 2002.

8. Trinh Trong Nghia (2008), Korean Economy under President Roh Moo-hyun , Journal of Northeast Asian Studies, No. 3(85) - March 2008

9. Konard Adenauer Institute (2005), The role of SMEs in the economy, domestic and international experience, The Gioi Publishing House.

10. Vu Phuong Thao, Nguyen Chi Long (2005), The effectiveness of the Korean Government's credit policy during the industrialization period , Journal of Economic Research No. 322 - March 2005.

English Reference List

1. APEC SME Innovation Center (2006), Member Economy's Profile of SME Innovation Policies in APEC.

2. Chris Hall, Charles Harvie (2003), A comparison of the performance of SMEs in Korea and Taiwan; policy implications for turbulent times, Hosted by University of Ballarat, Ballarat, Australia.

3. Gary Gregory, Charles Harvie, and Hyun-Hoon Lee, University of Wollongong (2002), Korean SMEs in the Wake of the Financial Crisis: Strategies, Constraints, and Performance in a Global Economy .

4. Jeffrey B. Nugent and Seung-Jae Yhee (2001), Small and Medium Enterprises in Korea: Achievements, Constraints and Policy Issues, World Bank Institute.

5. Linsu Kim, Jeffrey B. Nugent, The World Bank, Policy Research Department, Finance and Private Sector Development Division (1994), The Republic of Korea's Small and Medium-Size Enterprises and Their Support System s.

6. Park Yong-pyung, Chin Yong-ju (2006), The Services of Korea Credit Guarantee Fund.

7. Sunyang Chung, Industrial Bank of Korea (IBK) (2005), Korean innovation policies for small and medium-sized enterprises.

8. Sunyang Chung (1999), Korean innovation policies for small and medium-sized enterprises.

List of reference websites

1. Korea Small and Medium Business Administration - Website: http://www.smba.go.kr/main/english/index.jsp

2. Korea Federation of Small and Medium Enterprises - Website: http://www.kfsb.or.kr/english/

3. Statistics Korea - Website: http://www.nso.go.kr/eng2006/emain/index.html

4. KBS- Website: http://world.kbs.co.kr/vietnamese/

5. Korean Embassy in Vietnam - Website: http://www.hanquocngaynay.com/

6. Vietnam Small and Medium Enterprise Development Agency - Website: www.business.gov.vn/

APPENDIX

Table 1.1 Standards for identifying SMEs in Taiwan over time

Total capital, Total assets, Revenue (million NT$) Number of regular employees (million people)

Branch

Period

Industrial production and construction	Extractive	Trade, transportation, service industries other profession
September 1967	- Total capital: < 5 and - Number of regular employees: <100		- Revenue: < 5 and - Number of regular employees: <50
March 1973	- Registered capital: <5 and total asset value: =< 20 or - Total registered capital: <5 and number of regular employees in textile and electronics industry: <300; + food processing industry products: <200 + other industries: <100		-
August 1977	- Contributed capital: <20 - Total asset value: <60 and - Number of regular employees: =<300	- Contributed capital: <20 and - Number of regular employees: =<500	- Revenue: <20 and - Number of regular employees: <50
Month 2/ 1979	-	- Contributed capital: <40	-
July 1982	- Contributed capital: <40 and - Total asset value: =<120	-	- Revenue: < 40
December/ 1995	- Total contributed capital: =<60 or - Number of regular employees: =< 200		- Revenue: =< 80 or - Number of regular employees: =< 50
May 2000	- Total contributed capital: < 80 or - Number of regular employees: =<200		- Revenue: =<100 or - Number of regular employees: =< 50
Month 7/ 2005	- Total contributed capital: =< 80 or - Number of regular employees: =< 200		-

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• Experience in Developing Management Staff in Small and Medium Enterprises of Countries Around the World
• Developing lending to small and medium enterprises at Vietnam Joint Stock Commercial Bank for Industry and Trade - Bac Ninh Branch - 12
• Developing banking services to support small and medium enterprises in Vietnam - 7
• Quang Nam Province's Experience in Restoring and Developing Traditional Craft Villages Associated with Modern Tourism Development Trends

Source: Taiwan Small and Medium Enterprise Administration

Table 2.4 Number of SMEs classified by industry

Number of establishment		Number of employees
2005	2006	2005	2006
Total	2.99.3421	3,009,112	10,722,218	10,828,658
Agriculture and forestry	438	479	4.445	4,886
Fishery	126	134	3,377	3,438
Mining	1,847	1,830	15,205	14,379
Manufacture	338,002	338,496	2,737,299	2,724,791
Electricity, gas, water supply	327	351	8,096	8,358
Build	88,600	89,697	696.013	736,919
Wholesale and retail	859,222	859,667	2,295,002	2,320,502
Restaurant and hotel business	620,244	617.210	1,641,498	1,610,526
Insurance, finance	335,945	340,950	753,166	771,014
Media	5,893	5,970	50,099	49,226
Real estate for sale and rent	100,541	103,863	240,412	246,935
Commercial Services	82,967	85,602	701.143	740,280
Educational Services	103,790	108,704	395,988	407,684
Health and social services	60,853	63,714	322,067	347,498
Entertainment, culture, sports	125,223	119,796	301,812	275,771
Other community services	269,403	272,649	557,218	566,658

Source: Statistical Yearbook 2007, Korea National Statistics Office (KNSO)

Table 2.6. Number and proportion of employees in SMEs

SMEs		Large Enterprise		Total
Quantity	Ratio weight	Quantity	Ratio weight	Quantity	Proportion
1998	7,659,010	75.3	2,518,787	24.7	10,177,797	100
1999	8,866,001	81.9	1,963,960	18.1	10,829,961	100
Year 2000	9,677,648	83.9	1,853,260	16.1	11,530,908	100
Year 2001	9,969,797	85.6	1,680,237	14.4	11,650,034	100
2002	10,385,020	86.7	1,590,652	13.3	11,975,672	100
2003	10,474,630	87.0	1,566,757	13.0	12,041,387	100
2004	10,415,383	86.5	1,620,947	13.5	12,036,330	100
2005	10,771,623	88.1	1,450,538	11.9	12,222,161	100
2006	10,884,650	87.5	1,560,438	12.5	12,445,088	100

Source: Statistical Report and Survey on Manufacturing and Mining Industry, National Statistical Office; Korea Small and Medium Business Administration, SMBA

Table 2.7. Number and proportion of employees working in different types of enterprises

Business type

2005	2006	Increase (decrease) %
Number of employees (people) Rate (%)	Number of employees (people) Rate (%)
Micro Enterprise	5,121,769 (41.9)	5,159,639 (41.5)	0.7
Small Business	2,586,416 (21.2)	2,578,265 (20.7)	0.32
Medium Enterprise	3,063,438 (25.1)	3,146,746 (25.3)	2.7
Large Enterprise	1,450,538 (11.8)	1,560,438 (12.5)	1.03
Total	12,222,161 (100)	12,445,088 (100)	1.8

Source: Korea Federation of Small and Medium Enterprises, 2007