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OECD Science, Technology and Innovation Outlook 2016

image of OECD Science, Technology and Innovation Outlook 2016

The fully revamped and re-titled OECD Science, Technology and Innovation Outlook is a biennial publication that aims to inform policy makers and analysts on recent and future changes in global science, technology and innovation (STI) patterns and their potential implications on and for national and international STI policies. Based on the most recent data available, the report provides comparative analysis of new policies and instruments being used in OECD countries and a number of major emerging economies (including Brazil, China, India, Indonesia, the Russian Federation and South Africa) to boost the contribution of science and innovation to growth and to global and social challenges. In this edition, detailed country and policy profiles are available on line.

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Korea

The rapid development of Korea’s ICT and electronics sectors has made it one of the fastest-growing OECD economies over the past decade. Korea weathered the global crisis better than most OECD and non-OECD economies, and it is the world’s most R&D intensive country, with GERD at 4.29% of GDP in 2014. Korea does nevertheless face some challenges: slowing growth, rising inequality and unemployment, a rapidly ageing society and emerging environmental problems. The 3rd S&T Basic Plan (2013-17) sets out the new government’s road to economic prosperity and public well-being with the High Five Strategy to address long-term challenges. Its action plan was established in 2015. Furthermore, the Creative Economy Initiative introduced a major STI policy governance reform and new policy initiatives. Creative Economy is a strategy to shift Korea’s growth paradigm from an industrial economy to a knowledge economy by unlocking the productive potential of national STI and cultural ecosystems. In particular, the highest priority is given to advancing the S&T and ICT sectors and to refocusing Korea’s research and innovation system on entrepreneurship and the innovative application of technology.

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