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A Study on Korean Emerging Industries’ Types and Strategies of Industrialization

Author Suh Donghyuk, Choi Younhee, ShimWoojung, KimSeungmin Date 2016.12.26 Page
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1. Purpose and Scope of Research

 

With the commencement of a new technology-driven era called the fourth industrial revolution, new products and services are expected to be produced and industries developed. As innovative technologies that have great impact on overall industries and society are emerging, new types of industries are expected to be created through various processes of fusion to meet new demand caused by the development of society.  

 

As uncertainties in domestic and overseas business environments are growing, Korean industry will face greater difficulties in its competitive positioning in the global market if the country fails to find new growth engines to drive the economy in near future. As Korea’s industries move beyond the existing “follower” strategy and pursue a “leader” strategy and achieve structural advancement, the Korean government should take pre-emptive measures by promoting new growth-engine industries. Korea needs to develop new industries through higher policy efficiency and commercialization from a new perspective on growth engines based on Korea’s competitive edges that have been strengthened during the development of major industries. 

 

This research aims to analyze the characteristics of twelve emerging industries to classify them and seek measures to further promote their industrialization by considering the different characteristics of those industries so that Korea can efficiently develop new growth engines where the country has competitive advantages. This research seeks to suggest an industrialization strategy customized to each type of industry. 

 

The scope of research is the twelve emerging industries selected by the researchers of this report among new growth engine industries suggested by the government and other major public organizations in Korea.

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