Concerns over the Efficacy of Korea’s Technology Policy

It would be fair to say that the Korean government’s technology initiatives have helped Korea to become a high-tech power house. And yet, some questions can be raised regarding the efficacy of Korea’s technology policy.

For one, the effectiveness of the national R&D management including funding allocation for science and R&D programs and evaluation mechanism has been under question. The diffusion of public R&D outcomes has proved problematic. The government has failed to nurture more upper-stream research which the private sector can’t pursue easily.

Although the process of accumulating technological capacity in Korea has been successful to a large extent, the enormous challenge lay ahead.

After initial stage of assimilation and adaptation, more carefully planned, integrated policy interventions and its role may need to be redefined and reestablished. Among these interventions, revamping industrial structures and developing the solid supplier base across the value chain would require holistic, concerted efforts.