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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

TABLE OF CONTENTS

Foreword
Abbreviations and acronyms
Executive Summary
Overall assessment and recommendations
Korea’s economic performance and framework for innovation
Business sector research and development and innovation in Korea
Production, circulation and use of knowledge for a new era of innovation in Korea
Science, technology and innovation governance for a new era of innovation in Korea
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