By Jörg Mahlich, Werner Pascha
Only inadequately perceived by way of the Western public, Korea has reworked into an fiscal heavy weight in the course of contemporary a long time. The Korean executive believes it may flip it into one of many best 10 aggressive economies until eventually 2010. This target doesn't sound overambitious as Korea has passed through large efforts on the way to forge forward within the box of study and improvement. In a few excessive tech industries, Korean organisations have complicated into best avid gamers within the international marketplace position and are more and more tough their overseas rivals. in contrast heritage, the amount bargains an in-depth research of the Korean innovation procedure and indicates how its technology and know-how regulations really paintings. As Korea’s economic climate is now attaining the prestige of a newly complicated financial system, the booklet additionally takes an in depth glance on ongoing structural adjustments during fiscal globalization.
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Additional resources for Innovation and Technology in Korea: Challenges of a Newly Advanced Economy
These questions are to be addressed in the following pages. In this paper, it is necessary to explore the relationship between the development of Korea’s technological capabilities and the development of inward FDI. This is done in tandem with an examination of technology policies and FDI policies from 1962 to 2000. Several methods are used in this study, including a descriptive survey of Korea’s technological capabilities and inward FDI development, as well as interviews and bibliographical analysis to investigate the policies of the Korean government.
The country’s knowledge stock is not utilized to its full extent due to underdeveloped linkages between firms, government labs and universities. The Korean Innovation System 29 Table 3. Overall assessment of the Korean innovation system Institutional sector Basic structure Strengths Business sector R&D Strong concentration on business groups and on a few industries Government and Relatively public research in- large-scale stitutions governmental R&D subsidies for firms; public R&D labs mostly focused on engineering Strong international competitiveness in specific sectors Good sectoral fit between public sector and industrial R&D Higher education Very high gensystem and unieral education versities level; universities primarily education oriented Very strong general commitment to education; high general skill level and knowledge pool ______ Linkages between Few intersectors sectoral flows of human resources, capital and knowledge Weaknesses Recent developments Very uneven in- Continued dustry structure; expansion of weak SME sec- large firms; tor formation of venture business sector Highly fragHigher priormented S&T ity given to policy and stronger coordination of S&T policy; new focus on venture nurturing Mismatch beStronger retween education search oriencontents and in- tation of unidustrial needs; versities; weak research higher priorbase of universi- ity given to ties applicationoriented skills UnderHigher moutilization of bility of knowledge skilled hustock due to man reweak inter- sec- sources; toral linkages gradually increasing universityindustry collaboration All these weaknesses are to a high extent the outcome of Korea’s late and fast development which resulted in a number of imbalances within its innovation system as well as its economy as a whole.
Rowman & Littlefield, Totowa Dunning H (1997) Alliance Capitalism and Global Business. Routledge, London Finance Department and Korea Industry Bank (1993) The History of Korea’s Foreign Direct Investment for 30 years. Finance Department and Korea Industry Bank, Seoul Fontes M, Coombs R (2001) Contribution of New Technology-Based Firms to the strengthening of technological capabilities in intermediate economies. Research Policy 30:79-97 Hahm SD, Plein LC (1997) After Development, The Transformation of the Korean Presidency and Bureaucracy.
Innovation and Technology in Korea: Challenges of a Newly Advanced Economy by Jörg Mahlich, Werner Pascha