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Korea's path to an advanced industrial economy

Related Document
Frame of Image tems
Development goals
 Build a production base for exports
Major policy directions
 Expand light industries  Mobilize capital  Promote HCI  Build SOC
Macroeconomic policy framework
 Prepare institutional bases for industrialization  Picking winners  Market intervention  Macroeconomic stabilization  Private autonomy and competition
Science and technology
 Build legal basis & administrative frameworks  Set up S&T infra (Daeduck Science Town)  Promote business R&D  NRDP
1960s
1970s
 Build a self-reliant growth base
1980s
 Expand tech-intensive industries
 Industrial rationalization  Trade liberalization
1990s
 Enhancing productivity through innovation
 Nurture venture business  Build ICT infrastructures
 Reform and restructuring  Regain growth potential
 Frontier research and innovation clusters
Source: Suh & Chen (2007)
The Korean Model/Strategy
• Political Leadership - Vision, goals: long-term investment for S&T, HRD, Infra - Planning and coordination • Business Entrepreneurship - Carrots and sticks: Exporting means competition - Learning from teachers, then excelling • Public-Private Partnership - Step-wise approach, Effective use of limited resources - Co-evolution of technology, HK and industry  Limitations of the Korean model: many failures, indeed!
Strong Political Leadership
S&T has been Presidential agenda
Case: 4M DRAM Project (1986~1989)
•4 Ministries • 3 firms : Goldstar, Samsung, Hyundai • ETRI • Semiconductor RC at SNU
“Head of ETRI should


Full Text
Title Korea's path to an advanced industrial economy
Similar Titles
Material Type Proceedings
Author(English)

Suh, Joonghae

Publisher

[Sejong] : Korea Development Institute

Date 2015
Event

Consultation on Vietnam 2035 Report

Event [Workshop] Consultation on Vietnam 2035 Report
Pages 37
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Industry and Technology < Science/Technology
Holding KDI; KDI School
License