OECD Reviews of Innovation Policy: Korea 2023

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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.



The OECD Review of Innovation Policy for Korea 2023 is the 34th in a series of OECD Country Reviews of Innovation Policy (https://www.oecd.org/sti/inno/oecd-reviews-of-innovation-policy) and the third one which covers Korea (following the OECD Reviews of Innovation Policy: Korea 2009 and the OECD Reviews of Innovation Policy: Industry and Technology Policies in Korea [2014]). This Review was requested by the Ministry of Science and ICT (MSIT) and the Science and Technology Policy Institute (STEPI).


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