earticle

영어

This paper is an exploratory research on the growth paths and factors of three Korean new ventures that became global hidden champions. Six propositions were drawn from the case analysis on the three growth paths of product diversification, market diversification, and vertical integration of the Korean new ventures. The case companies became global hidden champions through the diversification into related product markets based on their research development management skills, and through the multiple simultaneous exports of specific products to overseas markets from the start-up with export marketing management skills. The maintaining of export and local sale methods with own production management ability also helped with the globalization of business. As new ventures, they faced many difficulties in globalization, including the liability of newness and foreignness, however, they were able to overcome these challenges through the development and improvement of management ability. Despite the hardships that come from a lack of experience knowledge and managerial resources, the diversification into related product markets, the multiple simultaneous export market expansion, and the maintaining of export and local sale methods on the basis of efficient and effective resource management skills allow Korean new ventures to become global hidden champions.