Korea as a Knowledge Economy : Evolutionary Process and Lessons Learned

This report on Korea is geared towards policy makers from developing countries that are in the midst of, or are intending to, embark on the transition towards the knowledge economy. It provides pragmatic policy lessons drawn from Korea's forty-five years of knowledge-based growth. This report not only looks at the current policies and challenges of today's high income Korea, but also reviews its historical economic development since the 1960s when Korea was still a low income country. It follows Korea through the decades as it undertook an array of knowledge strategies that propelled it through the various income levels. This report therefore provides compelling policy lessons that are relevant for developing countries at different stages of economic development.

Bibliographic Details

Main Authors:	Suh, Joonghae, Chen, Derek H. C.
Language:	English en_US
Published:	Washington, DC: World Bank 2007
Subjects:	ADSL, ADULT EDUCATION, ADVERSE EFFECTS, AGRICULTURE, ASYMMETRIC DIGITAL SUBSCRIBER LINE, ATM, BALANCE OF PAYMENTS, BANK LOANS, BANKS, BENCHMARKING, BROADBAND NETWORKS, CABLE TELEVISION, CAPITAL GOODS, CAPITAL REQUIREMENTS, CITIES, CLIENT COUNTRIES, CODE DIVISION MULTIPLE ACCESS, COMMODITIES, COMMODITY, COMMUNICATION TECHNOLOGIES, COMMUNICATIONS TECHNOLOGIES, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, COMPETITIVE ADVANTAGE, COMPETITIVENESS, CONSUMER, CONSUMER GOODS, CONSUMERS, CONTRIBUTION, CONTRIBUTIONS, COPYRIGHT, CRISIS MANAGEMENT, CURRENCY, CURRENT ACCOUNT, DATA COMMUNICATION, DATA SOURCES, DEBT, DEMOCRATIC SOCIETY, DEPOSIT, DEREGULATION, DEVELOPMENT BANK, DEVELOPMENT POLICIES, DEVELOPMENT PROCESSES, DEVELOPMENT PROJECTS, DEVELOPMENT STRATEGIES, DEVELOPMENT STRATEGY, DIFFERENT INTEREST RATES, DIGITAL SUBSCRIBER, DIRECT INVESTMENT, DISEQUILIBRIUM, DISPOSABLE INCOME, DISTRIBUTION OF WEALTH, DIVERSIFICATION, E-MAIL, EASE OF USE, ECONOMIC DEVELOPMENT, ECONOMIC FRAMEWORK, ECONOMIC GROWTH, ECONOMIC HISTORY, ECONOMIC LIBERALIZATION, ECONOMIC MANAGEMENT, ECONOMIC ORDER, ECONOMIC POWER, ECONOMIC SECTORS, ECONOMIC STRUCTURE, ECONOMIC STRUCTURES, ECONOMIES OF SCALE, EDUCATIONAL DEVELOPMENT, EMPLOYMENT OPPORTUNITIES, ENGINEERS, EQUIPMENT, EXCHANGE RATES, EXPLICIT KNOWLEDGE, EXPORTS, FACTORS OF PRODUCTION, FAIR TRADE, FINANCIAL CRISIS, FINANCIAL MARKET, FINANCIAL SYSTEM, FINANCIAL TRANSACTION, FINANCIAL TRANSACTIONS, FISCAL MANAGEMENT, FISCAL POLICIES, FISCAL POLICY, FOREIGN COMPETITION, FOREIGN DIRECT INVESTMENT, FOREIGN INVESTMENT, FREE TRADE, GDP GROWTH RATE, GDP PER CAPITA, GLOBAL ECONOMY, GLOBAL KNOWLEDGE, GLOBALIZATION, GNP, GNP PER CAPITA, GOVERNMENT EXPENDITURES, GROSS DOMESTIC PRODUCT, GROSS FIXED CAPITAL FORMATION, GROSS NATIONAL PRODUCT, GROWTH POTENTIAL, GROWTH RATE, HUMAN RESOURCE, HUMAN RESOURCES, ICT, ILLITERACY, INCOME, INCOME LEVELS, INDUSTRIAL DEVELOPMENT, INDUSTRIALIZATION, INEFFICIENCY, INFLATION, INFORMATION INFRASTRUCTURE, INFORMATION TECHNOLOGY, INNOVATION, INNOVATION SYSTEMS, INSURANCE, INTELLECTUAL PROPERTY, INTEREST RATE, INTERNATIONAL TRADE, INVESTING, INVESTMENT COMPANIES, JOB TRAINING, KEY INDUSTRIES, KNOWLEDGE CREATION, KNOWLEDGE DEVELOPMENT, KNOWLEDGE ECONOMY, KNOWLEDGE FOR DEVELOPMENT, KNOWLEDGE MANAGEMENT, KNOWLEDGE REVOLUTION, KNOWLEDGE STRATEGIES, LABOR FORCE, LABOR MARKET, LAN, LARGE ENTERPRISES, LEARNING, LICENSES, LICENSING, LITERACY, LOCAL AREA NETWORK, LONG-TERM PLANNING, LOW INCOME, LOW INTEREST RATES, LOW-INCOME, MACROECONOMIC POLICY, MACROECONOMIC STABILIZATION, MANUFACTURING, MARKETING, MATERIAL, MATHEMATICS, MEDICAL INSURANCE, MEDIUM ENTERPRISES, MINIMUM WAGE, MONETARY POLICIES, MONOPOLY, NATIONAL ECONOMY, NATIONAL INCOME, NATURAL RESOURCES, NEW TECHNOLOGY, OPPORTUNITY COST, PATENTS, PENSION, PENSION SYSTEM, PER CAPITA INCOME, POLITICAL LEADERSHIP, POSITIVE EFFECTS, PRICE MECHANISM, PRIMARY EDUCATION, PRIVATE SAVINGS, PROBABILITY, PRODUCTION TECHNIQUES, PRODUCTIVITY, PRODUCTIVITY GROWTH, PROGRAMS, PURCHASING POWER, PURCHASING POWER PARITY, QUERIES, R&D, RAPID GROWTH, RAPID INDUSTRIALIZATION, RAPID INFLATION, REAL GDP, REINVESTMENT, RESEARCH ASSISTANCE, RESEARCH CENTERS, RESOURCE ALLOCATION, SAVINGS, SAVINGS DEPOSITS, SAVINGS RATES, SCIENTISTS, SECURITIES, SECURITIES DEALERS, SENIOR, SERVICE PROVIDERS, SKILLED WORKERS, SMALL BUSINESS, SOCIAL DEVELOPMENT, SOCIAL WELFARE, STANDARDIZATION, STOCK EXCHANGE, TECHNICIANS, TECHNOLOGY INDUSTRIES, TECHNOLOGY POLICY, TELECOM, TELECOMMUNICATION, TELECOMMUNICATIONS, TELEPHONE, TELEPHONES, TELEVISION, TOTAL FACTOR PRODUCTIVITY, TRADE POLICIES, TRADITIONAL ECONOMY, UNEMPLOYMENT, UNEMPLOYMENT RATE, USES, VALUABLE, VALUE ADDED, VALUE CHAINS, VENTURE BUSINESS, WAGE, WAGES, WEB, WEB SITE, WORLD MARKET, WORLD TRADE, WORLD TRADE ORGANIZATION, WORTH, WTO,
Online Access:	http://documents.worldbank.org/curated/en/2007/01/8340550/korea-knowledge-economy-evolutionary-process-lessons-learned https://hdl.handle.net/10986/6755
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