Again, a portion of my analysis is only posted.
The Korean government recognized the economic advantages of export-oriented manufacturing based on cheap, well-educate labor force in the 1960s. In this context, the government promoted labor-intensive Light Industries and pursued a “catch-up” strategy to manufacture low-technology assembly-type products. In order to enhance the process technology capacity, the Korean government started to launch the technology development initiatives and build a technology infrastructure…
By the late 1970s, the economic setback due to overinvestment in the HCI sector and low capacity utilization forced the government to upgrade the industrial structure and deepen technological competence…
In the 1980s, the Korean government transformed the industrial structure into more technology-intensive industries. Foreign companies got reluctant to transfer their technologies to Korea, afraid of the growing technological competence of Korean firms…
The real high-tech progress took off after the mid-1990s. The share of high-tech products in total exports increased from 14.4% in 1985 to 32.9% in 1995 and then to 38.4% in 2000.
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