Technology Development Patterns of Small and Medium Sized Companies in the Korean Machinery Industry

Abstract This paper presents four different patterns of technology development for small and medium sized companies in the machinery industry in a newly industrializing country, Korea. These four patterns are validated through indepth case studies. The case studies suggest that technology development patterns evolve according to firm size and the level of technological capability. In addition, the importance of non-formal methods of technology acquisition, technology accumulation, and business/technology policy for efficient technology development is also shown in this study. For the generalization of the findings, more extensive study in various industries and international comparative studies are needed.