Research On Comparing Start-up Ecosystem Environment Between China And South Korea

In the face of a global economic downturn,the world is working hard to create its own economic growth and jobs.In an era of new normal medium-speed growth,China began to start a mass start-up policy in 2015 in order to improve its economic structure,create new growth momentum and solve the problem of youth employment.South Korea is also making efforts to build a start-up nation in an effort to revitalize emerging industries as it is also ushering in the fourth industrial revolution amid the decline of major industries such as electronics and semiconductors.Against this background,this paper is aimed at putting forward a plan to improve the ecosystem of entrepreneurship by comparing the characteristics and problems of the start-ups in China and South Korea.In comparing the two countries' entrepreneurial ecosystems,a quantitative approach is attempted through case studies and indicators comparison.For case studies,this paper investigates three examples: Zhongguancun,which is known as China's Silicon Valley,Pankyo Valley in South Korea,and Chengdu Innovation and Entrepreneurship Park,which was jointly established by China and the South Korean government.In addition,in order to construct comparable indicators of entrepreneurial ecosystem between the two countries,the research literature that constitutes elements of entrepreneurial ecosystem is investigated,and the data of entrepreneurship ecosystem between the two countries are analyzed by selecting the indicators from six areas: market,culture,finance,talent,policy and support.Through case studies of start-up ecosystems,it is not difficult to find out that missing even one of the six factors,namely,the market,culture,finance,talent,policy and support,thestart-up ecosystem cannot be complete.To develop the entrepreneurial start-up ecology,we need the whole six elements to create synergies and complement each other.In addition,the quantitative approach found that China has rapidly developed its ecosystem of entrepreneurship in the short term with its large market size,abundant capital and outstanding talent from home and abroad,but China needs to follow South Korea's complete start-up law and carry out a failure expo and re-start-up support.South Korea is pushing for a variety of policy attempts,including holding a failure exposition to build a start-up nation,but it is necessary to follow the example of China's excellent entrepreneurial talent policy and consistent entrepreneurial policies to create the results of a start-up policy.