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Fact-finding Investigation Results (2009) for Venture Firms   


□ Management Performance

o With total production of venture companies at 121 trillion won as of the end of December 2009, average sales, operating profit and net profit per company were 6.4 billion won, 399 million won and 186 million won, respectively.

o As a result of comparison of management performance among large enterprises, SMEs and venture companies regarding sales growth of total and manufacturing businesses and operating profit ratio of total and manufacturing businesses, venture companies recorded far better performance at 9.9% (12.6%) and 6.2% (6.8%), respectively.

□ Financial Conditions

o The average capital and the debt of venture companies increased 6.7% and 5.4% to 2.6 billion won and 4.01 billion won, respectively.

□ Composition of Sales

o With respect to the sales ratio of venture companies, B2B sales accounted for the largest portion with 75.0%, while overseas sales accounted for 8.0%.

o In terms of sales breakout, B2B sales were comprised of 32.1% in sales to SMEs and venture companies and 21.7% in sales to large enterprises as primary and secondary vendors.

□ Investment Status by Destination

o The average investment scale of venture companies in 2009 increased 3.0% year-on-year to 530 million won.

o The R&D investment ratio vs. sales of venture companies was higher than large enterprises and SMEs, at 3.3% for total venture companies and 3.4% for those engaged in manufacturing.

□ Manpower & Organization Status

o The average manpower scale of venture companies grew 5.5% to 27.0 persons.

o The increase in number of regular workers and non-regular workers was 24.7 and 2.3, respectively. In terms of job type, production (10.2) and R&D manpower (5.2) constituted the majority of the increase.

o 73.3% (duplicate responses) of venture companies said that they were experiencing difficulties in securing manpower and R&D manpower, in particular.

□ Status of Business Types and Growth Stages

o Machinery/manufacturing/automobile-related businesses accounted for the majority (24.0%) of venture companies, followed by 30.3% in food & beverages/textiles/(non) metals and 14.9% in computers/semiconductors/electronic parts.

o 56.0% of venture companies responded that they are now in 'an initial growth period,' the largest number, followed by 23.2% in 'a high growth period' and 13.2% in 'a mature period.'

□ Characteristics of Representatives

o Males (95.4%), those in their 40s (47.0%), university graduates (53.2%) and those who majored in engineering (57.9%) constituted the majority of representatives at venture companies.

□ Status of Industrial Property Rights and R&D

o The number of industrial property rights (IPRs) increased 0.3 case year-on-year to 6.9 cases on average, and among them, patent rights accounted for the largest portion with 3.0 cases on average.

o 70.1% of venture companies have attached research institutes or exclusive R&D departments, indicating that most venture companies are equipped with R&D organizations.

* 52.3% had attached research institutes and 17.3% had exclusive R&D departments, despite the lack of attached research institutes.

□ Assessment of Innovation & Technology Levels

o Most (82.1%) venture companies appraised that their technological prowess was world-unique or world-class, while 17.9% considered that their technological prowess was insufficient or comparatively inferior.

* 90.8% responded that their technological prowess was the highest level in Korea.

o With respect to the level of innovation at venture companies, the innovation-oriented index, pioneer-oriented index and challenge risk-oriented index averaged 73.9 points, 69.4 points and 67.1 points, respectively.

□ Overseas Advance Status

o Venture companies that have advanced abroad accounted for 40.6% of the total, and their advances by region, in order, were 58.7% into China, 46.8% into Southeast Asia, 40.6% into Japan and 34.9% into Europe.

o 77.1% (duplicate responses) responded that pioneering overseas markets is difficult. Among the difficulties, problems related to identification of business partners accounted for the majority with 39.4%, followed by lack of funds (17.9%) and lack of trade-specialized manpower (11.8%).

□ Management Difficulties of Venture Companies

o With respect to management difficulties of venture companies, pioneering overseas markets was the foremost at 77.1%, followed by difficulties in supply and operation of funds at 74.9%, and securing and maintenance of required manpower at 73.3% (duplicate response).


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