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The National Assembly Futures Institute publishes reports that predict and analyze the changes in the future environment based on a comprehensive perspective, and derive mid- to long-term national development strategies in consideration of the preferences of the citizens
[20-32] Research on Innovation Policy and Support Measures Reforms to accelerate the Transformation of the Innovation Paradigm.

Date : 2020-12-31 item : Research Report 20-32 P.I : Yeo Yeong-jun et al.

 In the past, as a latecomer to development, Korea achieved rapid growth by efficiently and successfully engaging in technological learning to absorb and apply advanced technologies and knowledge. However, the institutional inertia inherent in the government-led catch-up model distorts and limits the transformation of technological learning capabilities. To transition to a leading innovation system, it is necessary not only for specific industries and companies, but also for various actors to embody the entrepreneurial spirit and pursue continuous evolutionary development. However, there are growing concerns that Korea's innovation policy plays a limited role in enhancing the dynamics of the innovation ecosystem and creating positive externalities based on expanding diversity.

 Against this background, this study aims to examine the major institutional limitations and policy problems inherent in Korea’s innovation policy and corporate support schemes. In addition, we systematically propose government policy tasks to resolve the policy problems and support the transition to an entrepreneurial economy. To this end, we intend to quantitatively examine the evolutionary process of Korean firms' innovation activities with considerations of firm heterogeneity. Furthermore, this study attempts to focus on the potential role of high-growth companies in the transition to an entrepreneurial economy, and suggests policy reforms to build a scale-up oriented innovation system. Beyond this, our study explores the bottlenecks in effective innovation policies to promote firms’ evolutionary development in order to derive policy implications. Based on these approaches, we intend to derive key policy tasks to support the successful transition of the innovation system, and provide implications for establishing a national future-oriented innovation strategy.

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