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Innovative Environment

Korea is a global innovation leader in a broad range of fields,
including ICT platforms and process innovation.

Innovation nation

Korea has ranked 1st on the Bloomberg Global Innovation Index 2018 for five years in a row, a ranking of the world’s 50 most innovative countries carried out by Bloomberg. Korea ranked especially high for R&D spending, education and patents. This culture of innovation is another reason so many companies have invested in Korea.

2018 Bloomberg Innovation Index Rankings

 

블룸버그 1위
R&D 집약도 1위
부가가치 제조업 1위
특허활동 1위
교육수준 1위

* Source: Bloomberg Innovation Index (2018)

ICT innovation capability

Korea is a pioneer in the information and communications and technology sector.

According to the International Telecommunication Union’s (ITU) Measuring the Information Society Report 2017, Korea ranked the second among 176 countries in the annual ICT Development Index (IDI).

Korea’s ICT innovation extends beyond information and communications technology, enabling ICT convergence across a broad spectrum of fields, including bio, finance, logistics, tourism and culture.

Competitiveness of global Korean companies like Samsung Electronics, LG Electronics, and Hyundai Motor is built on their ability to maintain and improve their manufacturing processes in a timely and precise manner.

The manufacturing capability based on Korea’s process innovation will provide opportunities for domestic and foreign companies that wish to capitalize on process innovation capability.

ICT Development Index

  • Switzerland
  • Iceland
  • China
  • Denmark
  • Rep. of Korea

    No. 2 (2017)

    No. 1 (2010, 2015, 2016)
  • U.K.
  • Japan
  • No. 1
  • No. 3
  • No. 4
  • No. 5
  • No. 10
  • No. 80

* Source: ITU (2017) "Measuring the information ciety Report 2017"

The Fourth Industrial Revolution

The Fourth Industrial Revolution is a revolution of intelligence based on the hyperconnectivity
triggered by ditigal technologies such as artificial intelligence and big data.
It refers to the innovative changes not only in the industries but also across the national system,
society and the whole life. In particular, converged with the fundamental technologies of each field,
digital technologies including network (IoT, 5G), big data (Cloud), and
AI software (machine learning, algorithm) are leading the Fourth Industrial Revolution.

Presidential Committee on the Fourth Industrial Revolution

The Presidential Committee on the Fourth Industrial Revolution (PCFIR), established by the Korean government based on the Presidential Decree on the Creation and Management of the PCFIR, deliberates upon and coordinates the following.


  • National master plans and strategies related to the 4th Industrial Revolution
  • Executive plans and major policies of various ministries regarding the 4th Industrial Revolution
  • Measures to support the advancement of science & technology and the development & innovation of
    core technologies(AI, ICT, etc.) necessary for the 4th Industrial Revolution; and
  • Measures to foster new industries and services created through the integration of intelligent
    technologies into existing industries.

 

한국 8.84
아이슬란드 8.74
덴마크 8.83
스위스 8.68
영국 8.57
스웨덴 8.67

4TH INDUSTRIAL REVOLUTION COMMITTEE

PCFIR Secretariat
Innovation Sub-committee
Special Sub-committee
Science and
Technology
Industry and
Economy
Social
System
Smart City
Healthcare
Ministry of Science
and ICT
Prospects future,
analyzes issues

Finds key task areas,
supports implementation
Carry out innovation policies
Share policy direction; Modify policies
MOE
MOEF
MSS
MOTIE
MOIS
MOLIT
MOEL
MOHW
Local Gov't

Strategic Investment for Innovative Growth

The Korean government has selected eight leading projects under the four policy directions
for the innovative growth. In particular, it decided to spend KRW 5 trillion at the national level
to invest in realizing the platform economy in which individual companies can hardly invest.

  • ㆍBlock Chain
  • ㆍSharing   
    economy
  • Smart Farm
  • Creation of platforms and ecosystem
  • Future Vehicle
  • Smart City
  • Smart Factory
  • Energy New Business
  •  Innovation of
    social institutions

  • Innovation of industry

  •  Innovation of human

  •  Innovation of science
    and technology

  • Drone
  • BioHealth
  • Nurturing innovative human resources
  •  Hydrogen
    economy

  • Artificial
     Intelligence
     (AI)
     

  •  data economy

* Source: 2018 Vice Ministerial Meeting on "Innovative Growth" organized by the Ministry of Economy and Finance