Publication:
Innovative Korea: Leveraging Innovation and Technology for Development

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dc.contributor.editorSoh, Hoon Sahib
dc.contributor.editorKoh, Youngsun
dc.contributor.editorAridi, Anwar
dc.date.accessioned2023-08-21T15:25:35Z
dc.date.available2023-08-21T15:25:35Z
dc.date.issued2023-08-21
dc.description.abstractThe Republic of Korea today is a highly industrialized, global leader in innovation and technology. It is the 10th largest economy in the world and has a per capita income approaching the average of OECD countries. In the 1950s, however, it was one of the world’s poorest countries, with decidedly bleak prospects. Its transformation has made Korea a well-known case study of successful development. "Innovative Korea: Leveraging Innovation and Technology for Development" summarizes the sources of Korea’s remarkable growth and the policies and institutional reforms that made it possible. The report focuses on Korea’s successful transition from a middle-income to a high-income economy. Korea escaped from the “middle-income trap” by fundamentally transforming its growth paradigm to a more private-sector-led model emphasizing market competition, innovation, and technology. Compared to the previous emphasis on large firms and industries, the government became more focused on promoting small and medium enterprises and technology entrepreneurs. Exports expanded significantly through greater integration in global value chains. Already-high levels of human capital development were complemented by an expanded social safety net and a more integrated approach to education and training. Korea succeeded by focusing on the foundations of long-run growth, building global capabilities in innovation and technology, and adapting and evolving its growth paradigm to promote new sources of growth. Innovative Korea, jointly prepared by the World Bank and the Korea Development Institute, provides useful insights on Korea’s development story and practical lessons for public policy making.en
dc.identifierhttp://documents.worldbank.org/curated/en/099081723222522546/P17443502632aa05f088b70859849e492f7
dc.identifier.doi10.1596/978-1-4648-1961-2
dc.identifier.doihttps://doi.org/10.1596/978-1-4648-1961-2
dc.identifier.isbn978-1-4648-1961-2 (paper)
dc.identifier.isbn978-1-4648-1984-1 (electronic)
dc.identifier.otherLibrary of Congress Control Number: 2023939892
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40234
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectECONOMIC DEVELOPMENT
dc.subjectTECHNOLOGY
dc.subjectLESSON FOR DEVELOPMENT
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectMIDDLE INCOME TRAP
dc.subjectSUSTAINABLE DEVELOPMENT
dc.subjectSMES
dc.subjectINNOVATION
dc.subjectASIAN FINANCIAL CRISIS
dc.subjectHUMAN CAPITAL
dc.subjectGLOBAL VALUE CHAIN
dc.titleInnovative Koreaen
dc.title.subtitleLeveraging Innovation and Technology for Developmenten
dc.typeBook
dspace.entity.typePublication
okr.associatedcontenthttps://www.youtube.com/watch?v=9xDfzjEeIIM&t=2s Video Presentation
okr.crossref.titleInnovative Korea: Leveraging Innovation and Technology for Development
okr.date.disclosure2023-08-21
okr.date.doiregistration2025-04-07T08:31:10.265647Z
okr.date.doiregistration2025-04-08T16:14:46.144700Z
okr.date.doiregistration2025-04-09T02:47:04.331369Z
okr.date.doiregistration2025-04-15T11:26:53.786065Z
okr.date.lastmodified2023-08-18T00:00:00Zen
okr.doctypePublication
okr.docurlhttp://documents.worldbank.org/curated/en/099081723222522546/P17443502632aa05f088b70859849e492f7
okr.guid099081723222522546
okr.identifier.docmidP174435-2632aa4c-abf3-495f-88b7-859849e492f7
okr.identifier.doi10.1596/978-1-4648-1961-2
okr.identifier.doihttp://dx.doi.org/10.1596/978-1-4648-1961-2
okr.identifier.externaldocumentum34145451
okr.identifier.internaldocumentum34145451
okr.identifier.report184564
okr.import.id1542
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099081723222522546/pdf/P17443502632aa05f088b70859849e492f7.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryKorea, Republic of
okr.sectorOther Industry, Trade and Services
okr.themeLabor Market Institutions,Entrepreneurship,Human Development and Gender,Enterprise Development,Private Sector Development,Innovation and Technology Policy,Labor Market Policy and Programs,Business Enabling Environment
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicPrivate Sector Development::Private Sector Economics
okr.topicScience and Technology Development::Science Policies
okr.unitKorea World Bank Group Office (EAPKR)
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