Korean electronics firms have been aggressively involved in learning and knowledge
accumulation over the past two decades. Their consumer products, including color television
sets (CTVs), video cassette recorders (VCRs), and microwave ovens, were able to remain
competitive in the low-end segment of world markets until the late 1980s, generating the cash
flow needed to support development of more advanced technologies. In recent years, however,
Korean products are meeting increased competition