IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v132y2018icp40-45.html
   My bibliography  Save this article

Industry 4.0: A Korea perspective

Author

Listed:
  • Sung, Tae Kyung

Abstract

The objectives of this paper are (1) to have a detailed, practical discussion of Industry 4.0, and (2) to suggest policy implications to transition toward Industry 4.0 in Korea. Companies should consider Industry 4.0 very seriously as they develop their future initiatives since traditional manufacturing business models do not fit with the emerging technologies of Industry 4.0. Some issues should be addressed with care: IT security, reliability and stability needed for critical machine-to-machine communication; a need to maintain the integrity of production processes, avoid IT snags, and protect industrial knowhow; and the lack of adequate skill-sets, general reluctance to change by stakeholders, and loss of many jobs to automatic processes and IT-controlled processes. To successfully transform Korean industry toward Industry 4.0, it is necessary to (1) refine and elaborate the strategies enacted by the central government to build economic and social systems that can flexibly respond to changes, (2) establish some kind of operational system to maximize the effectiveness of initiatives and policies, (3) develop concrete and workable action plans to transition toward economic and social systems that can accommodate innovative changes, and (4) establish infrastructure to lead all initiatives.

Suggested Citation

  • Sung, Tae Kyung, 2018. "Industry 4.0: A Korea perspective," Technological Forecasting and Social Change, Elsevier, vol. 132(C), pages 40-45.
  • Handle: RePEc:eee:tefoso:v:132:y:2018:i:c:p:40-45
    DOI: 10.1016/j.techfore.2017.11.005
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162517313720
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.techfore.2017.11.005?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:132:y:2018:i:c:p:40-45. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.