The 4th Industrial Revolution Strategy and Cooperation in China, India and Singapore

Choongjae Cho () and Youngchu Song ()
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Choongjae Cho: Korea Institute for International Economic Policy
Youngchu Song: Korea Institute for International Economic Policy

No 18-14, World Economy Brief from Korea Institute for International Economic Policy

Abstract: This study focuses on analyzing China, India and Singapore's driving capability for the 4th IR, related national policies, plans, or strategies, etc. In addition, this study suggests implications and directions for the development of policies related to the 4th IR by the Korean government and the strengthening of cooperation with each of these three countries. In conclusion, we presents the following cooperation directions and policy tasks in respect to the three countries above. First, we need to enhance selective and strategic cooperation with China in the aspects of competition and response via the following strategies: 1) strengthening R&D projects for original technologies in new technology and industry areas, thus focusing on early commercialization and standardization; 2) developing strategies to actively utilize digitalized consumers in China and protecting domestic digital consumers and cross-border personal information; 3) advancing into the areas of 5G, smart manufacturing and robot-related fields in China; 4) enhancing collaboration in terms of internationalization of innovative entrepreneurial ecosystems; 5) pursuing agreements to address the issues of technology deception and technical protection. Second, we need to enhance all-round convergence and win-win cooperation with India through the following channels: 1) early enhancement of core SW technologies such as artificial intelligence, embedded and cloud computing via using India's excellent SW, IT service capability; 2) taking advantage of India's Big Data resources, including Aadhaar, the world's largest digital personal authentication system; 3) participating in smart manufacturing, digital infrastructure development with new technologies and products related to smart city initiatives, cooperation between start-ups in both countries; 4) to do this, we will need to consider utilizing the Vision Group of Korea-India Future Strategy; and 5) creating a Korea-India Innovation Venture Fund. Lastly, with Singapore, we need to strengthen innovation cooperation in policies and systems, education, R&D, and entrepreneurial ecosystems that underpin the 4th IR.

Keywords: 4th industrial revolution strategy; China; India; Singapore (search for similar items in EconPapers)
Pages: 4 pages
Date: 2018-04-03
New Economics Papers: this item is included in nep-cna, nep-cse, nep-ino, nep-pay and nep-sea
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Citations: View citations in EconPapers (2)

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