We discussed that a country remakes itself from a government that creates laws, technology, and products. The government focuses on what the people wants. The government, industry, and people work together in order for modernization and changes. Hong discusses that South Korea was able to modernize into a large economy from a less developed nation and became known for its popular culture and entertainment industry (3). Most importantly, Hong states that South Korea provided an immense amount of government funds, spread Korean culture through the internet, and focused on global perspectives in order to entice nations (4). Unlike other countries, South Korea was able to understand development of other nations and what was favored. Rebranding and innovations do not happen if there is no government funding and more government funding can lead to a prosperous economy. Hong emphasizes that the Korean government allocated a huge portion of funds in order to save South Korea record industry and rescue pops (5). In the end, the government affects a country’s stability. South Korea is one of the nations that allocated government funds to start ups and entertainment industries. Graham defines a startup is a company that focuses on growth, new innovations, ideas that are overlooked, what individuals want, and solves problems (1-3). In order to create a successful startup, Graham discusses there should be good people in startups, focusing on who to hire, and spending little money as possible (1-2). I believe South Korea was able to maintain its startups by understanding its business sector and entertainment industry.
As for Indonesia, “the nation launched laundry startups globally with mobile home cleaning and air conditioner” (Amirio, 1). The startup, Ahilijsa, connects laundry services and customers through internet and mobile which makes it more convenient for users. The startup serves the Indonesian people and the Indonesian government provides support to internet infrastructure. This is an example of a successful startup and modernizes the nation.
South Korea can continue to achieve its national aesthetics with more labor-intensive services. Emmott states that South Korea has a lower labor-intensive services sector with only 66% compared to Japan and the United States 70%-80% (2). As there is an increase in the job sector, this can help South Korea create infrastructures and focus on sustainable growth.
Image citation: Startups Archives-PC Quest. 2014. Cybermedia, n.p.
Question: What other strategies that nations with fewer startups can use in order to develop more startups?
Citations:
Amirio, Dylan . "Indonesian startups take to global stage." The Jakarta Post . PT. Niskala Media Tenggara, 25 Aug. 2017. Web. 14 Jan. 2016.
Emmott, Bill . "South Korea: Finding its place on the world stage." McKingsley & Company , Apr. 2010. Web. 14 Jan. 2017. <http://www.mckinsey.com/global-themes/asia-pacific/south-korea-finding-its-place-on-the-world-stage>.
Graham , Paul. "How To Start A Startup: Want to start a startup?" N.p., Mar. 2005. Web. 14 Jan. 2017. <http://www.paulgraham.com/start.html>.
Graham , Paul . "Startup=Growth: Want to start a startup? ." N.p., Sept. 2012 . Web. 14 Jan. 2017. <http://www.paulgraham.com/growth.html>.
Hong , Euny. The Birth of Korean Cool: How One Nation Is Conquering The World Through Pop Culture. New York : Picador , 2014. Picador . Web. 14 Jan. 2017. <https://canvas.ucdavis.edu/courses/72045/files/folder/Readings/Week1?preview=617725>.
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