Public policy toward the innovation-driven economy in Korea

International Journal of Entrepreneurship and Innovation Management

Volumn 3, Issue 3, 2003, Pages 267-281

  Lee, Byoung Hoon ^a   Kyeun Kwun, Seog ^b  

^a Chung Ang University   (South Korea)

^b Hankuk University of Foreign Studies   (South Korea)

Author keywords

human resources in science and technology (HRST); knowledge based economy; National innovation system; public policy; science and technology; venture

Indexed keywords

EID: 33748873183     PISSN: 1368275X     EISSN: 17415098     Source Type: Journal    
DOI: 10.1504/IJEIM.2003.003283     Document Type: Article

References (16)

1. OECD (2000) Korea and the Knowledge-based Economy: Making the Transition.
2. The NSTPP states that the goal of the second step (2007–2015) is to stand out as a major R&D promoting country in the Asia-Pacific region, actively engaging in scientific studies and creating a new atmosphere conducive to the promotion of R&D. In the third step (by 2025), the government intends to secure a scientific and technological competitiveness in selected areas comparable to those of G-7 countries.
3. http://most.go.kr
4. Prior to the NSTC, there existed inter-ministry councils to coordinate the government’s policy on science and technology: the Science and Technology Review Council (1991–1995) and the Board of Science and Technology Ministers (1996–1998). However, the NSTC, chaired by the President, has a higher status than the former councils, which were led by the Prime Minister (for the STRC) or the Minister of Science and Technology (for the BSTM).
5. STEPI (2000) Trends of National Industrial Technology Policies and Advancement of Technology Development Assistance Institution (in Korean).
6. In 2001, only 12% of total R&D expenditure was allocated to universities and the government’s subsidy is below 50% of the R&D budgets of universities in Korea, lower than the USA (64.5%), Germany (88.6%), and the UK (64.4%).
7. According to OECD (2001) Innovative People: Mobility of Skilled Personnel in National Innovation Systems, the HRST population is defined as being either highly educated (i.e. with third level education or higher) or employed in jobs with high innovation potential (i.e. professionals and technicians). In this paper, HRST denotes the workforce that has high education of third level or higher and is employed in occupational sectors related to science, technology, and R&D.
8. With regard to HRST, the NHRDPP also includes the enhancement of the brain pool for foreign scientists and the expansion of career opportunities for women scientists.
9. MOST (2002) Major Achievement of Science and Technology Policies during the Four Years of the People Government (in Korean).
10. Amsden, A. (1989) Asia’s Next Giant: South Korea and Late Industrialisation, New York, Oxford University Press.
11. Oh, I. and Park, H. (2001) ‘Shooting at a moving target: four theoretical problems in explaining the dynamics of the Chaebol’, Asia Pacific Business Review, Vol. 7, pp.44–69.
12. Cho, H., Huh, H., Chung, S. and Lee, J. (2001) Changes in Corporate R&D after the Financial Crisis: Practices and Policy Suggestions, STEPI. (in Korean).
13. KITA (2001) The Survey of R&D Expenditures and Technology Development Support Systems in Venture Companies, (in Korean). In this report, 44.4% of venture companies surveyed responded that they possessed unique technologies that are expected to guarantee their competitive advantage even in the global market.
14. http://www.kosdaq.or.kr
15. In order to prevent the speculative behaviours of venture companies, the government implemented the Special Program for Sound Development of the KOSDAQ at the end of 1999, which aimed to strengthen its monitoring over venture companies and capital funds.
16. Policy Evaluation Committee, Office of the Prime Minister (2001) Evaluation of Policies Promoting Venture Businesses (in Korean).