R&D Support Policy and Its Strategic Direction in Korea

There are various concepts associated with strategic R&D conducted by both the private and public sectors. Basically, Technology Innovation and Technology Management can be addressed as strategic concepts for effective and efficient R&D. Technology Innovation focuses on technology development and its effective utilization, to improve, upgrade, or reform either the product itself or the process of producing it. In comparison, Technology Management is involved in the overall management of technology, including technology development, although it can go further in scope. Accordingly, strategic success and failure factors should be drawn from the entire environment surrounding R&D policy, analysis, and application/implementation. The government’s R&D support system contains: (i) tax support (ii) financing support (iii) procurement (iv) HR support (v) National R&D project (vi) law and institutional infrastructure. In this paper, we review Korea’s R&D support system by briefly covering a few key policy areas, and examine new issues and problems based on the results of the KOITA survey research. Finally, we present desirable policy directions that, we feel, will enhance the effectiveness and efficiency of the R&D activities in the private sector