Keyword: «confucianism»

This article analyzes some aspects of the establishment, functioning and development of business in the Republic of Korea. Special attention is paid to the confessional question as a factor that forms the cultural and value reference points of the state. The author contemplates relationship of cultural values and business potential of the population of the Republic of Korea. Subsequently, modern legislation regulating small and medium businesses is analyzed. In addition, this article examines in detail the nature of social free enterprise and the experience of the Republic of Korea in its legal policy and application of development tools for this sector of the economy.