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High tech, low fertility, Korea becomes a role model in cultural industrial policy

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  • High tech, low fertility, Korea becomes a role model in cultural industrial policy
  • Tung, An-Chi; Wan, Henry
  • The Association of Korean Economic Studies


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Title High tech, low fertility, Korea becomes a role model in cultural industrial policy
Similar Titles
Material Type Articles
Author(English)

Tung, An-Chi; Wan, Henry

Publisher

[Seoul]:The Association of Korean Economic Studies

Date 2010-08
Journal Title; Vol./Issue Korea and the World Economy:vol. 11(no. 2)
Pages 19
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Social Development < Employment
Holding AKES

Abstract

High tech products come from highly educated societies, where families choose quality over quantity in children, causing low fertility, hence, population-aging, and labor shortage. From personal stamina and strength, the source of comparative advantages shifts to collective effort like research and public communication, and leadership with insight, reputation and expertise. Hundreds of architects can thrive in a firm under one star leader. In particular, for high tech societies strong in implementation and communication, agglomerative externality benefits fields like entertainment and mass media. Additionally, state sponsorship, social commitment and visionary policies can nurture historical and cultural endowment. Again, by Linder hypothesis, products of national passion evolve into distinctive exports. With wideband infrastructure, successive presidential proclamations on cultural industrial policy, and media support, successful Korean TV plays, movies and on-line games have demonstrated the four-fold economic principles stated above. (The rest omitted)