And getting to market in the first place takes too long: South Korea's venture-backed firms typically struggle for ten years before listing.

ECONOMIST: South Korean firms

To that end, it has set up a joint venture with Samsung of South Korea to develop and produce Li-ion batteries for automotive use.

ECONOMIST: The electrification of motoring

It bought Zimmermann, an East German producer, in 1992 and now makes a range of pianos to less demanding standards in the Czech Republic, America, Indonesia and China (in a joint venture with Samick of South Korea).

ECONOMIST: Germany's export champions

The company also holds stakes in Asian telecommunications companies planning to deliver broadband and wireless net access, among them a joint venture with NTTDoCoMo in Japan and Korea's Thrunet.

CNN: Thinking Smaller