Much of Korea’s innovation in the high-tech sector has been predicated on borrowed technology. Yes, its technological progress in a relatively short timeframe has been impressive. And yet, other than high-tech manufacturing competence and product development capacity, there have been significant skills shortages at the very high end in technology, which has led to technology trade deficit…
I’ve pointed out what has held up Korea’s exports and how Korea’s high tech firms have developed their innovation capacity. I have also discussed the limits of Korea’s innovation mechanism.
The world economy is going through a secular change, and Korean high-tech firms know that. The new technology industry has to form. We are at a point in which the Korean high tech firms need to go beyond the traditional technology boundary…
Since there is a sign of sliding exports as I mentioned in a prior post, Korea may be forced to rethink where its innovation engine lies.
(A detailed analysis on this topic won’t be shared due to the proprietary nature of the content.)
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