Title: Tale of two Koreas

Authors: Estelle Waechter, Vanessa Ratten

Addresses: A.J. Palumbo School of Business Administration, Duquesne University, Pittsburgh, Pennsylvania, USA. ' A.J. Palumbo School of Business Administration, Duquesne University, Pittsburgh, Pennsylvania, USA

Abstract: The economic performances of North and South Korea over the past decade have differed significantly. This is largely due to the government policies of the two countries, which affect business in conflicting ways. Despite the differences in economic growth, there are a number of similarities between North and South Korea, which are examined in this paper. More importantly, the resource endowments of North Korea, together with the human capital of South Korea, could combine successfully to foster entrepreneurship. This paper discusses the legal, cultural and business environment of North and South Korea and discusses the important possibilities for business development particularly in the small business sector between the two countries.

Keywords: North Korea; South Korea; entrepreneurship; small business; management; economic performance; government policy; business development; legal environment; cultural environment; natural resources; human capital.

DOI: 10.1504/IJBG.2007.015407

International Journal of Business and Globalisation, 2007 Vol.1 No.4, pp.493 - 501

Available online: 15 Oct 2007 *

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