South Korea’s Experience in the Development of National Innovation System

Abstract

Introduction. The Republic of Korea nowadays is a leader of innovative development not only in Southeast Asia, but also at the global level. Since 1950’s thanks to the development of science, technology and innovation, one of the poorest agricultural countries has achieved unprecedented economic growth and became one of the leading advanced industrialised countries, which is popularly known as “Korea’s economic miracle.” One of the most important factors of rapid economic growth was the construction of an effective national innovation system (NIS). The purpose of the article is to analyze the main stages in the formation of the Korean national innovation system (NIS), to identify its strengths and weak points. Methods. The study used system analysis, structural-functional, historical and sociocultural approach. Conclusions. The Republic of Korea managed to construct an effective national innovation system thanks to the deduced state policy in the field of science and technology, competent strategic planning, a systematic and integrated approach to the development of innovation, large-scale and continuous R&D financing and the development of innovation infrastructure.