The Mixture of Fortune and Sweats: The Success of Korean LCD Industry in East Asia

  •  In Soo Han    
  •  Keun Yeob Oh    


This paper investigates the success factors of the Korean LCD industry in East Asia. These factors are described in relation to two contexts: the favorable environment surrounding the Korean LCD industry and the strategies and competencies developed by Korean companies. Success, including that of a specific firm, is usually not achieved, solely, by the efforts of a single player; it requires generally favorable conditions in the outside environment. Market conditions and rivalry among competitors are discussed as environmental factors favorable to Korean companies. Regarding the controllable strategies that Korean firms took to become top of the world’s LCD industry, three (technology development, investment, and manufacturing) are explained in detail. Various competencies that enabled Korean firms to develop these strategies are also mentioned. Finally, the discussion in the paper implies that business success can depend on intuition or risk-taking as well as reasoned decision making.

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