Abstract
Regional innovation systems(RIS) have been put emphasis on as new industrial development strategy in a knowledge-based economy. This paper, examine new directions of industrial policy with regard to the RIS. With the impotance of innovation system, industrial cluster, and inter-firm networks for industrial development, new directions of industrial policy in Korea is suggested as follows; ¤ To make policy efforts to foster firm networks, ¤Ł To be balance of regarding policies designed for fostering competition and promoting collaboration, ¤Ø To establish a regional innovation system with which to boost industrial clusters(or districts). The RIS model for regional industry development is outlined in this paper but policy initiatives for building a RIS have to be extracted from further studies.
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