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Creating Korea's future economy : Innovation, growth , and Korea-US economic relations

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  • Creating Korea's future economy
  • Connell, Sean P.
  • East-West Cener


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Title Creating Korea's future economy
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Sub Title

Innovation, growth , and Korea-US economic relations

Material Type Reports
Author(English)

Connell, Sean P.

Publisher

Honolulu:East-West Cener

Date 2014-01
Series Title; No AsiaPacific Issues / 111
Pages 8
Language English
File Type Link
Original Format pdf
Subject Economy < General
Holding East-West Cener

Abstract

The Korean government's "creative economy" agenda reflects growing consensus that Korea's future growth and prosperity depends on its ability to become a global leader in developing and commercializing innovative new products, services, and business models. To succeed, the Korean government must address regulatory, structural, educational, and cultural obstacles that have constrained Korea's ability to fully utilize its innovative capacities. This new emphasis on innovation brings Korea into closer alignment with the United States, which has long focused on innovation in its growth strategies. Moreover, it comes during the early stages of implementation of the US-Korea Free Trade Agreement (KORUS), which intersects with important areas of Korea's innovation framework policies. Policymakers, businesses, and researchers in both countries should examine potential new opportunities to increase cooperation around initiatives aimed at fostering innovation and growth, both within the bilateral context and at a global level.