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Enhancing productivity through innovation : Korea's response to competitiveness challenges

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  • Enhancing productivity through innovation
  • Suh, Joonghae
  • Korea Development Institute


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Title Enhancing productivity through innovation
Similar Titles
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

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)