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Regional industry promotion strategies for the smart regional innovation in Korea

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  • Regional industry promotion strategies for the smart regional innovation in Korea
  • Kim, Sunbae
  • Korea Institute for Industrial Economics and Trade


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Title Regional industry promotion strategies for the smart regional innovation in Korea
Similar Titles
Material Type Reports
Author(English)

Kim, Sunbae

Publisher

[Sejong, South Korea] : Korea Institute for Industrial Economics and Trade

Date 2017-08
Series Title; No KIET industrial economic review / vol. 22(no. 3)
Pages 7
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Others
Holding Korea Institute for Industrial Economics and Trade
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Abstract

Due to the structural low-growth around the globe and the advent of the 4th Industrial Revolution, industrial and regional policy see a paradigm shift. Industrial policies shift from ‘picking or backing winners’ to ‘matching winners’. ‘Matching winners’ industrial policy aims to promote the collaboration among the main agents and the convergence of the related industries within the region. In other words, this policy emphasizes on the implementation of innovation ecosystem based on the matching winners in the region. At the same time the regional policy shifts from ‘the spatially blind regional policy’ to ‘the place-based regional policy’. And the placebased regional policy is the rationale behind the ‘smart specialization’ driven by the EU combined with the matching winners industrial policy. In line with the policy paradigm shift, a place-based regional industrial policy such as the implementation of the innovation ecosystem and the smart specialization strategy emerges. (The rest omitted)