The purpose of this study is to present some perspectives for establishing a new post-crisis economic paradigm, and to identify the key tasks necessary to establish workable development strategies.
Despite successful risk management and swift economic recovery, the sustainable development of the Korean economy is still guaranteed. Uncertainties aggravate economic polarization and market opening and intensifying competition is likely to worsen employment insecurity. It is imperative that systemic and aggressive response strategies are established, based on the principles of market opening and market concentration.
In order to develop an advanced economy, Korea should equip itself with an optimal market order and ensure that multinational companies’ advance into the Korean market can also motivate the further sophistication of domestic industries and improve technology innovation.
Viable “select and focus” strategies should be adopted so that available resources and policy efforts can be invested in sectors that can generate comparative advantages per the size of the economy. Effort should be made to attract R&D divisions from American and European multinational companies, and to strengthen connections with overseas technology development projects. National research and development projects in high-tech fields such as bioengineering should be concentrated on commercially viable technologies, and R&D projects should be handled by a government authority in terms of planning, management, and re-organization. In addition, there should be opportunities for researchers from domestic industrial and overseas institutes to be involved in the entire process from planning, selection, and evaluation of research tasks, so a demand-oriented R&D system can be developed in Korea.
In addition, technology diffusion should be facilitated so that technology and knowledge can be distributed among different industries—in particular to small and medium sized enterprises—and specialized assistance programs and support institutes should be expanded. Moreover, decentralizing industrial technology support should be considered in order to encourage universities and research institutes to organize divisions in charge of technology transfer, and to promote regional industry-academia cooperation under the regional innovation system.
위기극복 이후 한국경제의 성장동력(Growth engines of the Korean economy after economic crisis)
|Series Title; No||연구보고서 / 99-05|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Economic Administration|
|Holding||KDI; KDI School|