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[Trade Dispute and Industrial Policy] Korea's Innovation-Driven Industrial Policy in the Era of Economic Security

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게시일 : 2023-12-11

Korea's Innovation-Driven Industrial Policy in the Era of Economic Security

By Yun Kyung Kim [Associate Professor, School of Northeast Asian Studies, Incheon National University]

► Korean economy seems to be challenging, with a slump in exports due to worsening economic slowdown and the fluctations of semiconductor market in China. 
► Moreover, governments of major countries are prioritizing their own interests to streghten economic security and secure supply chain resilience. 
► In 2022, the Korean government unveiled its national growth strategy, known as 'New Growth Strategy 4.0' to attain global leadership in key strategic industries such as semiconductors, secondary batteries, and displays.
►  In the era of economic security, Korea should 1) foster a national consensus that recognizes innovation-driven industrial policy as a national endeavor and 2) encourage target companies to take social responsbility in the face of national financial support. 

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