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Enhancing productivity through innovation : Korea's response to competitiveness challenges
- Enhancing productivity through innovation
- Suh, Joonghae
- Korea Development Institute
| Title |
Enhancing productivity through innovation
Similar Titles
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|---|---|
| Sub Title | Korea's response to competitiveness challenges |
| Material Type | Articles |
| Author(English) |
Suh, Joonghae |
| Publisher |
[Sejong, South Korea] : Korea Development Institute |
| Date | 2005-06 |
| Journal Title; Vol./Issue | KDI Journal of Economic Policy:vol. 27(no. 1) |
| Pages | 29 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Link |
| Subject | Industry and Technology < Science/Technology Industry and Technology < Others |
| Holding | Korea Development Institute |
| License |  |
Abstract
Korea is far behind other OECD countries in economy-wise productivity: Korea's labor productivity in terms of GDP per hour worked is the lowest among OECD countries. Against the existing productivity gap, there is a worrying sign in Korea's investment trend － rapid fall in machinery and equipment investment with slow increase in R&D investment. The challenge facing Korea is how to transform her economy from catching-up model to a knowledge-based one. The paper shows that, in tandem with the structural changes that today's Korean industries are experiencing, industry's innovation system is also changing. Innovation networks are emerging as the result of economy-wise restructuring since the financial crisis of 1997 and, though still not a dominant force, the newly emerging innovation networks will be the main threads of industry's innovation activities in the future. (The rest omitted)
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