The objective of this study is to provide a mid and long term prospectus of the Korean economy and to suggest new directions for industrial policies in the transitional stage from a production-oriented society to an information and knowledge-based society.
The development of Korean industry is directed towards industries with high added values created from knowledge and technology. This is a transition from past industry which was led by quantitative input of labor and capital due to the exhaustion of modern labor migration and diminishing marginal capital productivity. Knowledge-based development not only expands exports and ensures new growth engines, but also creates new employment, leading to an economic effect. However, as the technology gap increases between Korea and other technologically advanced countries, international dependency is also increased which might aggravate the potential for developing knowledge-concentrated industries.
From this perspective, it is necessary to create an environment to foster knowledge and technology innovation, and to conceptualize systems that provide incentives in each area of knowledge for the stable development of knowledge-based industry. In order to use the knowledge productively, it is essential to create political considerations to induce human resources investment and technology-based venture companies to improve quality of labor.
한국경제의 중장기 비전(The mid and long term vision of Korean economy)
|Series Title; No||KIET 산업경제|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Industry and Technology < IT
Industry and Technology < Science/Technology