The Innovative Platform Programme in South Korea: Economic Policies in Innovation-Driven Growth

Seong Soo Kim () and Yo Sop Choi ()
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Seong Soo Kim: Hankuk University of Foreign Studies, South Korea
Yo Sop Choi: Hankuk University of Foreign Studies, South Korea

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2019, vol. 13, issue 3, 13-22

Abstract: After several decades of rapid development, South Korea has recently experienced a critical economic downturn. The paper considers the prerequisites for the current state-of-the-art, as well as the new economic policy agenda aimed at fostering innovation in various sectors, thereby suggesting improved policy directions. To implement the innovation-driven policy, the Korean government produced the framework for the Innovative Platform Programme (IPP), which covers a wide range of sectors related to Industry 4.0 like artificial intelligence and blockchain. For the IPP to be successful, the authors believe, it is vital to understand and resolve the trade-offs between contradictory policy priorities — innovation-led growth, income-led growth, and a fair economy.

Keywords: South Korea; Innovative Platform Programme; innovation-driven growth; income-led growth; economic regulation; fair economy; dynamic efficiency; fourth industrial revolution (search for similar items in EconPapers)
JEL-codes: O32 O38 O53 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (5)

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