Korean firms seem to be in the middle between follower and leadership status in terms of product portfolio. A few leading Korean firms have obtained the world-class leadership position in some product areas such as mobile phones and LCD TVs. And yet, leadership capacities seem to be partially embodied even in these firms. The majority of Korean firms have not reached the innovation frontier stage. Based on their strengths in their accumulated high tech production capability and enhanced design capacity, Korean firms are gradually increasing the proportion of more value added products in a leadership status.
Korean firms tend to pursue hybrid innovation strategies, encompassing leadership, followership, or a mix...
This was possible due to their accumulation of multiple innovation capabilities, or, technological innovation, marketing innovation, and managerial innovation to a significant extent...
As Korean firms incrementally make the transition from follower to leader, they face difficulties and challenges as well as opportunities different from those in a catch up mode...
During the transition process, Korean firms may need to capitalize on the broader range of strategic options...
As Korean firms elevate from fast followers to leaders, they may need to move beyond scale-intensive manufacturing-centered, hardware-focused innovation...
An integrated, holistic approach is needed by various innovation actors in pursuing transition strategies...
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