Korea has tried to transfer the Korea’s development experiences to developingcountries. But internationally the Korea’s development experiences areunderstood as a part of ‘the East Asian Model of Development’. There aresimilarities and dissimilarities in the development experiences among Japan,Korea, Taiwan, Singapore and China. It seems that Korea claims theuniqueness of ‘the Korean Model of Development’ without clearly establishingdifferences with the other East Asian developing economies. This paper offers adifference of ‘the Korean Model of Development’. Korea is unique among theEast Asian developing economies in having several large private business groupswhich can compete with those of advanced countries on equal terms in thetechnology industries like the machine, electronics and chemical industry. Inaddition to the historical heritage of the small-farm society since the second halfof 17th century, the industrialization during the Japanese occupation and the coldwar environment after World War II, the Korean government policies of exportdriving, heavy chemical industrialization, R & D inducement and encouragingcompetition among large firms made Korea’s large private firms start newindustries continuously and become entrepreneurial. The fact that the Koreangovernment was able to foster large private entrepreneurial firms inmanufacturing industry could be a point differentiating ‘the Korean Model ofDevelopment’ from ‘the East Asian Model of Development’.