Publication: Korea : Transition to a Knowledge-Based Economy
Date
2000-06-29
ISSN
Published
2000-06-29
Author(s)
World Bank
Abstract
The report reviews the economic
transition in Korea, summarizing the challenge of the
knowledge revolution, to the country's development
strategy, and the analytical, and policy framework for a
knowledge-based economy. It explores the needs to increase
overall productivity, and areas of relative inefficiency,
namely, inadequate conditions for generation of knowledge,
and information; insufficient competition, and misallocation
of investments. Furthermore, the increasingly global, and
interdependent world, requires that Korea become
inter-nationalized, and this involves: active participation,
and leadership in international forums, particularly those
setting rules for the new economy; developing alliances with
world-class universities; and, active participation in
global knowledge systems, and international
telecommunications. Thus, the role of the Korean government
will need to be redefined, unleashing the creative power of
markets, providing legal and regulatory framework for more
competitive markets, and fostering policies conducive to
enterprise development, while addressing also, the risks of
the "digital divide". The report identifies key
areas for the government to move towards a comprehensive
approach, where reforms are needed to prod: economic
incentive, and institutional regime; education, training,
and human resource management; information infrastructure;
and, innovation systems.
Citation
“World Bank. 2000. Korea : Transition to a Knowledge-Based Economy. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/15256 License: CC BY 3.0 IGO.”