Description: Korea : Transition to a Knowledge-Based Economy

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Korea : Transition to a Knowledge-Based Economy

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...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	KNOWLEDGE-BASED STRATEGIES DEVELOPMENT ASSISTANCE REFORM POLICY INFORMATION SHARING ECONOMIC INCENTIVES INSTITUTIONAL TRANSFORMATION GOVERNMENT ROLE TRANSITION ECONOMIES FINANCIAL POLICY LABOR MARKETS SOCIAL SAFETY NETS RISK MANAGEMENT HUMAN RESOURCES REFORMS EDUCATION AIMS & OBJECTIVES TRAINING ASSISTANCE INFORMATION INFRASTRUCTURE INNOVATIONS ECONOMIC ANALYSIS LEGAL & REGULATORY FRAMEWORK COMPETITIVENESS ENTERPRISE DEVELOPMENT TELECOMMUNICATIONS TECHNOLOGY BUSINESS SERVICES CAPITAL INVESTMENTS CAPITAL MARKETS CODE DIVISION MULTIPLE ACCESS COLLABORATION COMMUNICATION TECHNOLOGIES COMMUNICATION TECHNOLOGY COMMUNICATIONS COSTS COMPETITIVE ENVIRONMENT COMPETITIVE MARKETS CONSUMER PROTECTION DEBT DECISION MAKING DEMOCRACY DEREGULATION DIGITAL DIVIDE DISTANCE EDUCATION E-COMMERCE ECONOMIC DEVELOPMENT ECONOMIC GROWTH EFFECTIVE USE EXERCISES EXPENDITURES EXPLOITATION GLOBAL KNOWLEDGE GNP GROSS NATIONAL PRODUCT HUMAN RESOURCE MANAGEMENT HUMAN RIGHTS ICT INCOME INDUSTRIAL ECONOMICS INFORMATION DISCLOSURE INNOVATION INSURANCE INTELLECTUAL PROPERTY INTERMEDIARIES INTERVENTION ISDN JOURNALS KNOWLEDGE ECONOMY KNOWLEDGE REVOLUTION KNOWLEDGE SYSTEMS LABOR INPUTS LAWS LEARNING LEGISLATION LEISURE LOCAL AUTHORITIES NATIONAL INFORMATION INFRASTRUCTURE NETWORKS PARENTS PARTNERSHIP PHONES PRIVATE SECTOR PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY RIGHTS PUBLIC GOODS PUBLIC HEARINGS PUBLIC SECTOR REGULATORY AGENCY REGULATORY FRAMEWORK RESEARCH CENTERS RESEARCH PROGRAMS SAFETY SAVINGS SCHOOLS SCIENTIFIC RESEARCH SECURITIES SOCIAL ISSUES TEACHERS TECHNOLOGY INDUSTRIES TECHNOLOGY POLICY TELECOMMUNICATION TELECOMMUNICATIONS TELECOMS UNEMPLOYMENT WAGES
Online Access:	http://documents.worldbank.org/curated/en/2000/06/437066/korea-transition-knowledge-based-economy http://hdl.handle.net/10986/15256

Description
Summary:	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.