Building an IT Economy: South Korean Science and Technology Policy

Underlying Korea’s remarkable post-1961 economic development has been the development of a strong science and technology capacity. During the authoritarian regimes (1961-1988), the state created a rudimentary research capacity, primarily focused on creation of government-run research institutions, a technical university, and a central research park, as the private sector gradually began to muster its own applied research capacity. The late 1980s to late-1990s saw a change of direction, as Korea’s chaebol conglomerates became the lead actors in R&D. The well-funded National S&T Technology Program became the focus of state efforts, later superseded by the 21st Century Frontier Program and specified research funds. By the turn of the century, Korea had achieved strong aggregate performance in terms of numbers of researchers and funds spent on R&D, and has continued to build on that for the past decade. Complete Article