OECD Reviews of Innovation Policy: Korea 2023
The "Miracle on the River Han" catapulted Korea from developing country to a prosperous
economy, driven in part by advancements in science, technology, and innovation. Being
the second-highest R&D spender among OECD economies, Korea excels in key technologies,
including semiconductors, 6G, and ICT infrastructure. Despite this remarkable progress,
disparities remain between SMEs and chaebols, manufacturing and services, ICT and
non-ICT industries, and urban and rural areas. Korea also grapples with societal and
economic vulnerabilities, including an aging population, a significant carbon footprint,
limited renewable energy use, and pronounced gender inequality. To further seize opportunities
for equitable and inclusive growth, Korea must foster a shared national vision to
develop science, technology, and innovation to address societal issues, enhance R&D
policy implementation, promote excellent research, further internationalise, and broaden
technology diffusion.
Published on July 31, 2023
In series:OECD Reviews of Innovation Policyview more titles