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Smart Factory Policies and SMEs’Productivity in Korea

Author

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  • Ju, Hyeon

    (Korea Institute for Industrial Economics and Trade)

Abstract

This study focuses on the demand sector of smart factories, especially policies related to the introduction of smart factories by small and medium sized manufacturers. D Discussions focusing on SMEs are important because the gap in capacity and resources between large corporations and SMEs is very large and most large corporations in Korea are already pushing the full utilization of smart factories on their own. This study review Korean policies to support SMEs in introducing smart factories and to improve the industrial ecosystem surrounding smart factories.

Suggested Citation

  • Ju, Hyeon, 2022. "Smart Factory Policies and SMEs’Productivity in Korea," Occasional Papers 21/2, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kietop:2021_002
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    More about this item

    Keywords

    smart factories; SMEs; small and medium-sized enterprises; SME policy; smart factory policy; innovation; R&D; Korea; SME ecosystem; industrial ecosystem; industrial policy; industrial strategy; productivity; manufacturing; competitiveness; competition policy; productivity growth; digital transition; digital transformation;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D25 - Microeconomics - - Production and Organizations - - - Intertemporal Firm Choice: Investment, Capacity, and Financing
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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