New Direction of Industrial Policy in Korea
- New Direction of Industrial Policy in Korea
- Kim, Ji Hong
- Issue Date
- Series/Report no.
- Working Paper Series;WP16-10
- South Korea had achieved remarkable growth during the last decades, and is quoted as an example
of successful industrial policy. This paper intends to review the history of industrial policy in
Korean and issues on industrial targeting. Since Korean economy enters more mature stage, new
paradigm of industrial policy is required to keep up with the changing environments. Particularly in
2000s, South Korean economy has transformed into knowledge economy and developed an
innovation-intensive industrial structure. As a bench mark case, Israel case is presented. The
knowledge revolution, together with increased globalization, presented significant opportunities for
promoting economic and social development in Korea.
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