SEJONG, South Korea -- South Korea's export-oriented growth model requires a "decisive upgrade" that involves narrowing the productivity gap between smaller companies and the conglomerates that dominate the economy, argues a report released on Thursday.
Economy
South Korea must boost SMEs as fertility declines, OECD says
Report advises streamlining complex government support programs for smaller firms
A shipyard in Busan, South Korea. Small- and medium-size enterprises have "considerable untapped potential" beyond supplying conglomerates, an OECD report said. © Reuters
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