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The Innovative Platform Programme in South Korea: Economic Policies in Innovation-Driven Growth

Author

Listed:
  • Seong Soo Kim

    (Hankuk University of Foreign Studies, South Korea)

  • Yo Sop Choi

    (Hankuk University of Foreign Studies, South Korea)

Abstract

After several decades of rapid development, South Korea has recently experienced a critical economic downturn. The paper considers the prerequisites for the current state-of-the-art, as well as the new economic policy agenda aimed at fostering innovation in various sectors, thereby suggesting improved policy directions. To implement the innovation-driven policy, the Korean government produced the framework for the Innovative Platform Programme (IPP), which covers a wide range of sectors related to Industry 4.0 like artificial intelligence and blockchain. For the IPP to be successful, the authors believe, it is vital to understand and resolve the trade-offs between contradictory policy priorities — innovation-led growth, income-led growth, and a fair economy.

Suggested Citation

  • Seong Soo Kim & Yo Sop Choi, 2019. "The Innovative Platform Programme in South Korea: Economic Policies in Innovation-Driven Growth," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 13(3), pages 13-22.
    • Handle: RePEc:hig:fsight:v:13:y:2019:i:3:p:13-22
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    Citations

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    Cited by:

    1. Benedict E. DeDominicis, 2021. "Multinational Enterprises And Economic Nationalism: A Strategic Analysis Of Culture," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 15(1), pages 19-66.
    2. Myoungjae Choi & Ohjin Kwon & Dongkyu Won & Wooseok Jang, 2021. "Identifying the Policy Direction of National R&D Programs Based on Data Envelopment Analysis and Diversity Index Approach," Sustainability, MDPI, vol. 13(22), pages 1-17, November.
    3. Rinat Zhanbayev & Saule Sagintayeva & Abildina Ainur & Anton Nazarov, 2020. "The Use of the Foresight Methods in Developing an Algorithm for Conducting Qualitative Examination of the Research Activities Results on the Example of the Republic of Kazakhstan," Mathematics, MDPI, vol. 8(11), pages 1-19, November.
    4. Diana Schüler, 2023. "Institutional change and entrepreneurship as occupational choice—The case of South Korea," Journal of International Entrepreneurship, Springer, vol. 21(3), pages 385-439, September.
    5. Sergey Belozyorov & Olena Sokolovska & Young Sik Kim, 2020. "Fintech as a Precondition of Transformations in Global Financial Markets," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 14(2), pages 23-35.

    More about this item

    Keywords

    South Korea; Innovative Platform Programme; innovation-driven growth; income-led growth; economic regulation; fair economy; dynamic efficiency; fourth industrial revolution;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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