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The Korean manufacturers' innovation activities and future directions : A comparison with Japan and Germany

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Frame of Image ses reached 17.02 trillion won in 2004, thus more than doubling the amount recorded 5 years before(8.51 trillion won in 1999). In addition, the ratio of R&D investment to total sales of the manufacturing firms investing in R&D increased by 2.85% over the same period. However, this figure becomes very different when we exclude the top five companies: Samsung Electronics, LG Electronics, Hyundai Motor Company, Hynix Semiconductor, and GM Daewoo; which together account for 43% of the total R&D investment made by private sector Korean manufacturing industries. The rate of increase of R&D investment and the ratio of R&D investment to total sales becomes much lower when we exclude the above top 5 companies. In particular, the growing economic polarization caused by the slump in domestic consumption that began in 2003 has caused the ratio of R&D investment to total sales of small and venture businesses, which have traditionally played an important role in the Korean economy, to contract from 2.28% in 2002, to 2.23% in 2003, and 2.20% in 2004. This phenomenon has its origins in: 1) the slowdown in the domestic venture boom occasioned by the concurrent downturn in the international
Nov. / Dec.┃2006┃Vol 11┃No 6
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and domestic growth of the ICT industry since 2002; 2) the slowdown in domestic consumption since 2003; 3) the drop in investment for the future caused by the downturn in exports which has in turn been brought about by the strengthening of the Korean currency; 4) the increasi


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Title The Korean manufacturers' innovation activities and future directions
Similar Titles
Sub Title

A comparison with Japan and Germany

Material Type Reports
Author(English)

Hong, Ji-Sung

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2007
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 11(no. 6)
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Manufacturing
Holding KIET; KDI School

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