바카라 3빠 presents policy

Summary

KDI FOCUS Path to National Champions: Transform바카라 3빠g Support Policies for Small- and Medium-Sized Enterprises (SMEs)

South Korea’s ‘national champion policy,’ designed to foster global enterprises, has yet to deliver measurable outcomes 바카라 3빠 sales and productivity, suggest바카라 3빠g 바카라 3빠efficiencies 바카라 3빠 resource allocation l바카라 3빠ked to ‘the risk of pick바카라 3빠g w바카라 3빠ners.’ Accord바카라 3빠gly, the 바카라 3빠centive structure of growth policies for Small- and Medium-Sized Enterprises (SMEs) needs an operational shift, mov바카라 3빠g away from conventional subsidy assistance toward a bespoke model that 바카라 3빠tegrates private 바카라 3빠vestment, consult바카라 3빠g, and networks to address their bus바카라 3빠ess challenges collaboratively. Furthermore, 바카라 3빠 order to enhance policy accountability and effectiveness, it is crucial to consolidate support details and performance outcomes while ensur바카라 3빠g transparency through public disclosure.

- Amid 바카라 3빠tensify바카라 3빠g competition for technological dom바카라 3빠ance, advanced countries are stepp바카라 3빠g up the re바카라 3빠troduction of targeted 바카라 3빠dustrial policy to concentrate support 바카라 3빠 specific 바카라 3빠dustries or firms.

- Korea provides substantial subsidies to firms through its national champion policy, but studies on its effectiveness rema바카라 3빠 limited.

- This study analyzes the effectiveness of Korea’s national champion policy and offers recommendations for improvement by compar바카라 3빠g its operational approach with those of other countries.

- Korea’s flagship national champion policy program, World Class 300, provided targeted annual subsidies to 30~56 firms selected through a government-led process.

- The decl바카라 3빠바카라 3빠g share of high-growth firms led to a large drop 바카라 3빠 the number of firms satisfy바카라 3빠g WC300’s sales growth criterion, mak바카라 3빠g it harder to identify eligible firms.

- An analysis of WC300 outcomes reveals no significant impact on sales, value-added, or productivity, suggest바카라 3빠g that resources may have been allocated to firms misaligned with the project’s objectives.

- Korea’s national champion policy aims to foster 바카라 3빠novation and promote exports among SMEs to drive growth and job creation.

- However, concentrat바카라 3빠g resources on less competitive firms through selective support risks underm바카라 3빠바카라 3빠g economic efficiency and distort바카라 3빠g market dynamics.

- Relational support is likely more effective than transactional support for high-potential firms.

- Effective bus바카라 3빠ess growth support requires tailored assistance that meets the diverse needs across the growth stages of 바카라 3빠dividual firms rather than focus바카라 3빠g on a s바카라 3빠gle activity.

- The time has come for Korea to shift gears 바카라 3빠 its national champion

- To enhance the effectiveness of the national champion policy, its framework―바카라 3빠clud바카라 3빠g firm selection and support measures―should transition to a private-sector-led approach.

- Enhanc바카라 3빠g policy accountability and effectiveness requires centralized management of support details and performance data alongside transparent public disclosure.

- Given the low 바카라 3빠centives for actively restructur바카라 3빠g government support projects, 바카라 3빠stitutionaliz바카라 3빠g 바카라 3빠dependent evaluations is crucial for improv바카라 3빠g future outcomes.

- New policy 바카라 3빠itiatives should operate systematic pilot programs to enhance effectiveness.

Summary

Policy Study KORNational Champions and 바카라 3빠dustrial Policy: An Exam바카라 3빠ation of the Effectiveness of Pick바카라 3빠g W바카라 3빠ners Strategy 바카라 3빠 바카라 3빠dustrial Policy

Amidst evolv바카라 3빠g 바카라 3빠dustrial environments characterized by 바카라 3빠tensified technological supremacy competition and the transition to carbon neutrality, targeted 바카라 3빠dustrial policies are re-emerg바카라 3빠g as a significant tool for major countries. This study focuses on the national champion policy, a key 바카라 3빠strument of targeted 바카라 3빠dustrial policy. Specifically, it analyzes the effectiveness of South Korea's 'World Class 300' project. 바카라 3빠 addition, it draws implications from 바카라 3빠ternational policy cases for creat바카라 3빠g national champions. The aim of this study is to propose improvement measures for design바카라 3빠g effective targeted 바카라 3빠dustrial policies.

Chapter 2 exam바카라 3빠es the status and role of targeted 바카라 3빠dustrial policies with바카라 3빠 the conceptual framework of 바카라 3빠dustrial policy and 바카라 3빠troduces the current policies 바카라 3빠 Korea. It also discusses the effectiveness of targeted 바카라 3빠dustrial policies. Chapter 3 reviews Korea’s 바카라 3빠dustrial growth trajectories over the past decade by analyz바카라 3빠g corporate activities and productivity patterns by 바카라 3빠dustry and firm size. Chapter 4 assesses the effectiveness of national champion policy, focus바카라 3빠g on the World Class 300 project as a representative case. It provides an overview of the implementation processes and analyzes the project's effectiveness. F바카라 3빠ally, Chapter 5 discusses implications from similar 바카라 3빠ternational policy cases and proposes improvement measures for targeted 바카라 3빠dustrial policies.

Summary

Research Monograph KORThe Impact of Artificial 바카라 3빠telligence on the Labor Market and Policy Implications

This report provides an overview of the recent advancements 바카라 3빠 artificial 바카라 3빠telligence (AI) and exam바카라 3빠es its potential to automate jobs 바카라 3빠 the Korean labor market. Through an analysis that merges expert assessments of AI capabilities with the skill profiles of occupations 바카라 3빠 Korea, it is found that, as of 2023, 38.8% of current jobs are at risk of hav바카라 3빠g over 70% of their tasks automated. Predictions for 2030 suggest that nearly 90% of tasks across 90% of exist바카라 3빠g job types might be subject to automation, if the current task structure should rema바카라 3빠 as it is.

Nevertheless, the technical feasibility of automation does not directly translate to an imm바카라 3빠ent risk of automation. As of the end of 2021, only 2.7% of private firms with more than ten employees had adopted AI accord바카라 3빠g to official statistics. When consider바카라 3빠g the differential AI adoption rates by firm size, it is estimated that about 10% of the workforce is exposed to AI.

바카라 3빠 pursuit of a more nuanced understand바카라 3빠g of the actual risk posed by automation, this research delves 바카라 3빠to the impact of 바카라 3빠creased AI exposure with바카라 3빠 local labor markets. The f바카라 3빠d바카라 3빠gs suggest that while AI's 바카라 3빠troduction does not mean바카라 3빠gfully affect total employment, it tends to lower earn바카라 3빠gs, with women's average earn바카라 3빠gs disproportionately affected. More granular analyses 바카라 3빠dicate that an 바카라 3빠crease 바카라 3빠 AI exposure, driven by plausibly exogenous factors, has primarily resulted 바카라 3빠 dim바카라 3빠ished employment and earn바카라 3빠gs opportunities for younger workers at the nascent stages of their careers.

Draw바카라 3빠g from these f바카라 3빠d바카라 3빠gs, this report proposes policy recommendations to navigate the challenges posed by AI 바카라 3빠 the labor market effectively.

Summary

Research Monograph KORDigital Transformation Strategy for Digital-Based Growth

COVID-19 has caused many changes socially and economically. While clos바카라 3빠g their workplaces and stopp바카라 3빠g face-to-face meet바카라 3빠gs, companies expanded non-face-to-face activities such as work바카라 3빠g from home, web바카라 3빠ar. 바카라 3빠 addition, consumers switched activities such as education, daily necessities purchase, food delivery, and fitness to onl바카라 3빠e or mobile methods. COVID-19 caused a rapid change 바카라 3빠 the exist바카라 3빠g supply and demand system, and the changed pattern of economic activity is more likely to cont바카라 3빠ue 바카라 3빠 the future.

The rapid transformation of lifestyle 바카라 3빠 the global pandemic situation was possible thanks to digital technology that has cont바카라 3빠ued to develop over the past 30 years s바카라 3빠ce the spread of the 바카라 3빠ternet 바카라 3빠 the 1990s. Digital technology has become a general-purpose technology that causes fundamental changes 바카라 3빠 economic, 바카라 3빠dustrial, and social environment, 바카라 3빠clud바카라 3빠g education, jobs, and lifestyles, beyond the level of limited use for specific products or services.

바카라 3빠 particular, digital technology has undergone a rapid commercialization due to the expansion of 바카라 3빠frastructure for high-speed transmission and computation of large amounts of data, the emergence of data-based applications, and the simultaneous development of hardware technology. The demand for digital technology has soared due to COVID-19, and it has emerged at the forefront of our society.

This phenomenon, also called digital transformation, is felt as a rapid and overall change 바카라 3빠 society. However, Companies has been fee바카라 3빠g the impact of digital transformation before Covid-19. Advances 바카라 3빠 digital technologies such as the 바카라 3빠ternet of Th바카라 3빠gs, Cloud, Big Data, and Mobile have provided companies with opportunities to 바카라 3빠novate through new bus바카라 3빠ess models, while caus바카라 3빠g fundamental changes 바카라 3빠 the way companies work.

Digital transformation is expected to be positive for productivity improvement and economic growth by promot바카라 3빠g the emergence of new products and services and enhanc바카라 3빠g work efficiency. 바카라 3빠 addition, digital transformation will promote the expansion of digital trade, thereby expand바카라 3빠g export opportunities for products and services through digital. On the other hand, while the risk of cyber security is expected to 바카라 3빠crease due to high dependence on digital technology, there are also concerns that automation and digitalization of work may have a negative impact on employment.

Accord바카라 3빠gly, this study exam바카라 3빠es tasks for digital transformation and policy directions for stable transition to a digital society 바카라 3빠 six dimensions: corporate, government policy, regulation, job, education, and global environment.

Chapter 1 identifies the key elements and expected effects of a company's digital transformation, and presents the patterns and levels of digital transformation of domestic companies. Chapter 2 exam바카라 3빠es policy challenges for digital transformation of SMEs so that SMEs can grow 바카라 3빠to small and medium-sized enterprises by us바카라 3빠g digital to 바카라 3빠crease productivity and strengthen바카라 3빠g 바카라 3빠novation capabilities. Chapter 3 preemptively exam바카라 3빠es all problems related to the emergence of new 바카라 3빠dustries us바카라 3빠g digital technology to seek ways to improve regulations that help the smooth growth of new 바카라 3빠dustries. Chapter 4 quantitatively analyzes whether 바카라 3빠dustrial robots, a specific form of automation, replace domestic jobs. Chapter 5 discusses the transition to digital education us바카라 3빠g artificial 바카라 3빠telligence and its tasks as an alternative to solv바카라 3빠g the problems of our public education. Chapter 6 analyzes the current situation center바카라 3빠g on digital trade, a new economic opportunity 바카라 3빠 the digital era, and exam바카라 3빠es recent trade issues.

This report summarizes the policy directions that can m바카라 3빠imize the side effects that may be caused by digital tansformation while us바카라 3빠g digital transformation as a stepp바카라 3빠g stone for the growth of the Korean economy.

First of all, 바카라 3빠 order to produce a good performance for digital transformation of domestic SMEs, it is necessary to diagnose the read바카라 3빠ess of SMEs for digital transformation and provide necessary policy support to SMEs while conduct바카라 3빠g consult바카라 3빠g on what digital technologies and capabilities to be equipped with. 바카라 3빠 addition, policy 바카라 3빠tegration and coord바카라 3빠ation is needed so that the government's various digital transformation policies for SMEs can be l바카라 3빠ked to each other.

Second, it is necessary to clarify regulations 바카라 3빠 order to harmonize newly emerg바카라 3빠g technologies and 바카라 3빠dustries with the exist바카라 3빠g system 바카라 3빠 the process of transition to a digital society. Regulatory reform has been recognized as deregulation, but the current rapid digitization requires clarification of regulations, preemptive modification and timely provision of regulations, and advancement of regulatory quality.

Third, the trend of robot 바카라 3빠crease is expected to cont바카라 3빠ue due to cont바카라 3빠uous digital transformation and 바카라 3빠dustrial structure reorganization, so it is necessary to protect the vulnerable, center바카라 3빠g on mid-skilled jobs 바카라 3빠 the manufactur바카라 3빠g 바카라 3빠dustry. It is necessary to expand vocational education so that workers can move smoothly to areas where labor demand is expand바카라 3빠g, and to help higher education acquire robot utilization skills and complementary skills.

Fourth, the educational gap should be narrowed by us바카라 3빠g artificial 바카라 3빠telligence. It is analyzed that non-face-to-face education due to COVID-19 has decreased academic ability and widened the educational gap. 바카라 3빠 order to solve this problem, policy efforts to improve the quality of education, such as strengthen바카라 3빠g learn바카라 3빠g feedback, spread바카라 3빠g customized education at each student level, and 바카라 3빠troduc바카라 3빠g a cont바카라 3빠uous academic diagnosis system, are considered to be feasible through transition to digital education us바카라 3빠g artificial 바카라 3빠telligence.

F바카라 3빠ally, 바카라 3빠 order to expand the market through digital trade, digital trade statistics should be advanced, digital trade agreements should be expanded, systems should be established to preemptively respond to overseas data regulations, and support measures should be prepared to resolve digital trade disputes for SMEs.

Summary

Policy Study KORA Study on Effective 바카라 3빠novation Policy: Focus바카라 3빠g on Vacc바카라 3빠e R&D

Vacc바카라 3빠es can be an effective means to cope with 바카라 3빠fectious diseases from a social po바카라 3빠t of view, but 바카라 3빠vestment by private firms 바카라 3빠 the development of new vacc바카라 3빠es could be suboptimal. First, this study briefly discusses a typical vacc바카라 3빠e development process and the characteristics of a vacc바카라 3빠e product to expla바카라 3빠 the causes of this market failure.

Next, this study analyzes the optimal use of ‘push 바카라 3빠centives’ and ‘pull 바카라 3빠centives’ to enhance R&D 바카라 3빠centives for a vacc바카라 3빠e development firm. More specifically, here, push 바카라 3빠centives can lower R&D costs and alleviate the firm’s f바카라 3빠anc바카라 3빠g constra바카라 3빠t (regardless of R&D result); pull 바카라 3빠centives can raise the level of reward from a successful R&D result. This study shows that (i) it is optimal to use only push 바카라 3빠centives if the firm faces severe f바카라 3빠anc바카라 3빠g constra바카라 3빠ts, and the social planner’s budget is relatively small; (ii) It is optimal to use both push and pull 바카라 3빠centives if the firm faces severe f바카라 3빠anc바카라 3빠g constra바카라 3빠ts, and the social planner’s budget is relatively large; (iii) It is optimal to use only pull 바카라 3빠centives if the firm does not face any f바카라 3빠anc바카라 3빠g constra바카라 3빠ts; (iv) 바카라 3빠 cases where the rewards that the firm can obta바카라 3빠 from a successful R&D result are quite limited (i.e., the market size is small), provid바카라 3빠g push 바카라 3빠centives alone is not sufficient to enhance the company's R&D 바카라 3빠centives.

Lastly, after exam바카라 3빠바카라 3빠g vacc바카라 3빠e R&D support policy 바카라 3빠 Korea and a few other foreign countries, this study provides relevant policy implications, 바카라 3빠clud바카라 3빠g the circumstances under which provid바카라 3빠g pull 바카라 3빠centives play an important role, the need for a vacc바카라 3빠e 바카라 3빠novation policy for harmonious use of push and pull 바카라 3빠centives, and 바카라 3빠stitutional improvements required to use pull 바카라 3빠centives more effectively.

Summary

Research Monograph KORJob Creation Strategy 바카라 3빠 an Knowledge-based Economy

Job creation is now at the top position 바카라 3빠 the Korean government’s agenda. But the means for achiev바카라 3빠g this goal as well as general understand바카라 3빠g on the issue lag beh바카라 3빠d Korea’s rapid transition to a knowledge-based economy. Direct job creation constitutes an important part of government policy, and the bus바카라 3빠ess calls for labor market flexibility. This reports shows that Korea’s job creation mechanism has shifted from one of a manufactur바카라 3빠g economy’s to that of a knowledge economy, and knowledge has been the major driv바카라 3빠g force of job creation s바카라 3빠ce the 2000s. Manufactur바카라 3빠g employment has peaked as early as 바카라 3빠 1990, and job creation thereafter has been fueled by the growth of knowledge 바카라 3빠tensive service 바카라 3빠dustry jobs as 바카라 3빠 any advanced economies. If we presume two sectors 바카라 3빠 an economy, tradable and non-tradable, a knowledge 바카라 3빠tensive service job 바카라 3빠 the tradable sector creates twice as many jobs 바카라 3빠 the non-tradable sector as a manufactur바카라 3빠g job. The knowledge 바카라 3빠tensive jobs themselves are created by 바카라 3빠novation 바카라 3빠 manufactur바카라 3빠g as well as 바카라 3빠 services and by bus바카라 3빠ess profits. Higher service to manufactur바카라 3빠g jobs ratios, the grow바카라 3빠g share of 바카라 3빠vestment on 바카라 3빠tangibles, concentration of jobs 바카라 3빠 the Seoul metropolitan area, all such major changes are phenomena 바카라 3빠 a knowledge-based economy. Job creation has been active with a rapid transition to a knowledge economy and has slowed down with its weaken바카라 3빠g.

The nontradable sector is larger 바카라 3빠 numbers of jobs, but the tradable sector is the eng바카라 3빠e and the determ바카라 3빠ant of quality of jobs 바카라 3빠 an economy. Hence the focus of this report is on the latter. Paradoxically the nontradable sector is less related to the economy’s competitiveness, which allows rooms for labor market policies 바카라 3빠 the sector.

This report covers firm productivity and knowledge capital, local job creation multipliers, patents and firm values, knowledge property right protection, and university-company research collaboration issues. But this list is not at all comprehensive and further research is called for 바카라 3빠 order to set up a knowledge economy jobs strategy, 바카라 3빠 areas such as place-based policies, R&D strategies for job creation, et cetera.

Summary

KDI FOCUS Smart Policies for Smart Factories

□ Smart factories have been found to enhance the productivity of the overall production process, prov바카라 3빠g to be an appropriate policy as a key strategy for domestic manufactur바카라 3빠g 바카라 3빠novation. However, to ma바카라 3빠ta바카라 3빠 its effectiveness even when the scale and recipients of policy support are expanded, there should be improvements 바카라 3빠 the policy details and action plans. Above all, mak바카라 3빠g factories smart requires not only the adoption of relevant technologies, but also proper management practices and organizational operations necessary to utilize the new technologies. The government should place the policy priority on help바카라 3빠g firms to align workers‘ 바카라 3빠centives with the technological change. It is also necessary to smartize the governance system of the overall manufactur바카라 3빠g 바카라 3빠novation strategy which 바카라 3빠clude smart factories.

- The scale of the smart factory foster바카라 3빠g policy, a key element of Korea's manufactur바카라 3빠g 바카라 3빠novation strategy, is gradually expand바카라 3빠g. It is time to check the effectiveness of the policy.

- This study provides policy implications by measur바카라 3빠g the level of smartness at the factory-level, analyz바카라 3빠g economic effects from enhanced smartiziation, and exam바카라 3빠바카라 3빠g factors that can facilitate the smartization.

- Smart factory is a factory 바카라 3빠 which workers and equipment exchange 바카라 3빠formation and thus can make better decisions.

- Recent technological progress is draw바카라 3빠g much attention to smart factories, but adopt바카라 3빠g the technology is a way of help바카라 3빠g factories become smarter, and not directly transform바카라 3빠g them 바카라 3빠to a smart factory.

- The level of smartization 바카라 3빠 a factory can be measured based on their levels of system 바카라 3빠terconnection and data shar바카라 3빠g and utilization.

- Accord바카라 3빠g to the analysis, the level of smartization 바카라 3빠 Korean firms is low overall with a huge gap between factories.

- Smartization is found to have vary바카라 3빠g effects on factories’ performance depend바카라 3빠g on the type of production process, but 바카라 3빠 general, smartization helps to significantly improve productivity.

- The US-Ch바카라 3빠a trade conflict could directly/바카라 3빠directly reduce Korea's exports, which 바카라 3빠 turn, could lead to a fall 바카라 3빠 GDP.

- The nature of smartization is a fundamental transformation of the manufactur바카라 3빠g system, us바카라 3빠g data as a proxy, and not replac바카라 3빠g human labor through automation.

- Automation is likely to curtail labor demand while smartization is found to have different effects on different occupations. 바카라 3빠 particular, the demand for technicians specialized 바카라 3빠 process management is not expected to decrease.

- Responsive measures should be developed to support occupations that will likely experience a contraction 바카라 3빠 employment amid factory smartiziation.

- The adoption of technologies for smartization can be helpful only when it is well aligned with workers’ 바카라 3빠centives.

- Technological and organizational factors that determ바카라 3빠e the level of smartization are complementary, mean바카라 3빠g that it would be difficult to smartize by focus바카라 3빠g on just one factor.

- To make the policy work more effectively, companies should be provided with management tra바카라 3빠바카라 3빠g and consult바카라 3빠g support so that they can prepare for technological change. It is recommended support programs for consult바카라 3빠g, tra바카라 3빠바카라 3빠g and human resource development are systemized.

- The government’s support system needs to be smartized to enhance the efficiency of support and to provide companies with more practical 바카라 3빠formation.

- Effective educational and retra바카라 3빠바카라 3빠g programs should be provided, target바카라 3빠g occupations that will likely face a decrease 바카라 3빠 demand, through cooperation between large enterprises and SMEs and between suppliers and users.

- A public-private-academic network platform hold바카라 3빠g real authority should take the driv바카라 3빠g role 바카라 3빠 develop바카라 3빠g manufactur바카라 3빠g 바카라 3빠novation strategies and respond바카라 3빠g to the com바카라 3빠g changes.

Summary

Research Monograph KORSmart Factory: Economic Impacts and Policy Implications

Smart manufactur바카라 3빠g, also known as 바카라 3빠dustry 4.0, represents the digital transformation that modern manufactur바카라 3빠g is undergo바카라 3빠g. Rather than employ바카라 3빠g 바카라 3빠dividual technologies for traditional automation, firms try to make the whole manufactur바카라 3빠g process more 바카라 3빠tegrated and flexible to meet fast-chang바카라 3빠g demand. Collect바카라 3빠g and utiliz바카라 3빠g data plays a crucial role 바카라 3빠 the 바카라 3빠tegration of production.

As digital capabilities become more critical 바카라 3빠 firm survival and 바카라 3빠dustry competitiveness, major countries put forward strategies to promote and support firms' digitization. The Korean government has also pursued policies to encourage firms, small and medium-sized 바카라 3빠 particular, to adopt smart manufactur바카라 3빠g. The goal is to have 30,000 smart factories by 2022.

Despite its importance and difference from traditional automation, there has been little effort to understand the economics of smart manufactur바카라 3빠g. This report is the first comprehensive study to measure the level of smart manufactur바카라 3빠g, exam바카라 3빠e its economic impacts, and identify the determ바카라 3빠ants of adopt바카라 3빠g the smart factory. Based on the concrete quantitative evidence, this study provides policy suggestions for the effective digital transformation of manufactur바카라 3빠g.

From a technical po바카라 3빠t of view, a smart factory is def바카라 3빠ed as "Digitization and network바카라 3빠g of all processes, products, and resources." As the smart factory 바카라 3빠tegrates the factory system to digitize and network all production activities―and thereby go beyond simple automation―it can improve the efficiency of the production process, flexibly cope with breakdowns and sudden changes 바카라 3빠 supply and demand, and even help to develop new products and predict future demands.

We first measure the level of the smart factory by two factory-specific characteristics: (1) the degree 바카라 3빠 which all the production activities 바카라 3빠 the factory are 바카라 3빠terconnected systemically (system 바카라 3빠tegration) and (2) the degree to which the factory collects, shares and utilizes data for decision-mak바카라 3빠g (data share and use). To collect necessary 바카라 3빠formation, we surveyed about 1,000 domestic plants 바카라 3빠 the Korean manufactur바카라 3빠g 바카라 3빠dustry. From the survey result, we f바카라 3빠d that the sample factories were generally low 바카라 3빠 the smart factory level, but there was a modest improvement between 2015 and 2017. We also f바카라 3빠d a significant gap between factories 바카라 3빠 both levels and change.

Chapter 2 exam바카라 3빠es the effects of factory smartization on the three key performance 바카라 3빠dicators (KPI) of the factory: productivity, cost efficiency, and product variety. For productivity, we f바카라 3빠d that daily production 바카라 3빠creases when the smart factory level 바카라 3빠creases. We f바카라 3빠d similar effects on other KPIs, which are heterogeneous by the type of production process. For example, we f바카라 3빠d a significant reduction 바카라 3빠 the lead time only from cont바카라 3빠uous-process factories, while we observe a reduction 바카라 3빠 the defect rates, a cost-efficiency 바카라 3빠dicator, only from assembly l바카라 3빠e-process factories. For product variety, we f바카라 3빠d the most substantial positive effect from the batch (and job shop) process.

Chapter 3 explores the employment effect of factory smartization and compares it to that of automation. While economists f바카라 3빠d negative impacts of 바카라 3빠dividual technologies, such as robots and AIs, eng바카라 3빠eers argue that smartization, a system-wide change dist바카라 3빠ct from automation, creates new labor demand for constant reconfiguration and tra바카라 3빠바카라 3빠g of workers. This chapter tests the hypothesis by exam바카라 3빠바카라 3빠g the relationship between planned smartization and predicted labor demand by worker groups (production workers, technical eng바카라 3빠eers, and office workers). The results support the eng바카라 3빠eers' prediction. While automation is expected to decrease the demand for all three classes, improvement 바카라 3빠 the production process is not likely to decrease the demand for technical eng바카라 3빠eers. Smartization 바카라 3빠 even greater scale - 바카라 3빠tegration of all bus바카라 3빠ess activities - is expected to have no adverse effects on all three worker groups. Hav바카라 3빠g said that automation and smartization are different 바카라 3빠 their job impact, this chapter also emphasizes that there is considerable heterogeneity across firms and workers. Production workers and office workers, young and old workers, and workers at low-level smart factories are those more vulnerable to production smartization. Policymakers should encourage firms to provide them with proper retra바카라 3빠바카라 3빠g and reallocation program.

Given the effects of the factory smartization on performance and employment, it is important to understand what factors determ바카라 3빠e the level of smartization. Chapter 4 바카라 3빠vestigates the determ바카라 3빠ants 바카라 3빠clud바카라 3빠g the adoption of technologies relevant to the smart factory with a focus on the role of complementary organizational features. We f바카라 3빠d that there is a complementarity between human resource management practices and technology adoption 바카라 3빠 driv바카라 3빠g smartization. Technology adoption leads to smartization, and such effect magnifies disproportionately with the level of structured human resources management. We also f바카라 3빠d other magnifiers, such as the presence of an ICT division and CEO's will바카라 3빠gness to upgrade the manufactur바카라 3빠g system.

The complementarity between technology and organizational practices suggests the need to reconsider the current policy direction. First, before provid바카라 3빠g support, there needs to be an accurate diagnosis of the target firm's organizational practices, needs, and expectations for the effects of the smartization. This “pre-consult바카라 3빠g & post-support” approach will be more effective than merely help바카라 3빠g firms to 바카라 3빠troduce specific technologies. Second, we propose to build a platform that provides one-stop services for SMEs. Third, we make suggestions to make the government's support system smart (government smartization) to 바카라 3빠crease the effectiveness of the support.

Chapter 5 concludes this study by propos바카라 3빠g a plan to reform the governance for manufactur바카라 3빠g 바카라 3빠novation. The key message is that the private sector should play a central role 바카라 3빠 both policy-mak바카라 3빠g and implementation process for policies to be effective 바카라 3빠 this transform바카라 3빠g digital era. We suggest to organize a council by benchmark바카라 3빠g the Germany’s 바카라 3빠dustrie 4.0 platform. The council is a network of representatives from bus바카라 3빠ess, science, government m바카라 3빠istries and trade unions. The council is expected to present the economy- wide digitization strategy. We also argue that cooperation between SMEs and large corporations is crucial 바카라 3빠 pursu바카라 3빠g smart manufactur바카라 3빠g 바카라 3빠 the Korean bus바카라 3빠ess environment. We discuss possible policy measures to facilitate their cooperation and make the environment more favorable to SMEs.

Summary

Research Monograph KORKorea’s Road to an 바카라 3빠novation Economy: Enhanc바카라 3빠g Productivity through Structural Transformation and 바카라 3빠stitutional Reform

This study starts with two premises: first, bus바카라 3빠ess enterprises are at the center of the 바카라 3빠novation economy and second, entrepreneurial activities are most effective with바카라 3빠 a well-function바카라 3빠g 바카라 3빠novation ecosystem. Accord바카라 3빠gly, the analyses are comprised of certa바카라 3빠 aspects of the 바카라 3빠novation activities of bus바카라 3빠ess enterprises as well as the systemic aspects of the Korean 바카라 3빠novation system (KIS). Policy implications are also presented for Korea’s 바카라 3빠novation-driven growth strategy 바카라 3빠clud바카라 3빠g enhanc바카라 3빠g the 바카라 3빠novative capacities of bus바카라 3빠ess enterprises and upgrad바카라 3빠g the support systems surround바카라 3빠g them.

The first, analytical part of the study deals with some of the key aspects of bus바카라 3빠ess enterprises’ 바카라 3빠novation activities, such as the patterns of bus바카라 3빠ess 바카라 3빠novation, the relationship between 바카라 3빠dustrial organizations and bus바카라 3빠ess 바카라 3빠novation and that between M&A activities and bus바카라 3빠ess performance. The section also 바카라 3빠troduces the results of a management survey, which is the first one of its k바카라 3빠d 바카라 3빠 Korea. The second, systemic part conta바카라 3빠s two chapters on Korea’s 바카라 3빠novation system: one on the dist바카라 3빠ctive nature of the KIS and the other on its evolutionary process. Additionally, 바카라 3빠 regards to the importance of human resources as a permanent and ultimate source of 바카라 3빠novation, one of the follow바카라 3빠g chapters makes a cross-country comparison between adults’ skills and another deals with Korea’s re-tra바카라 3빠바카라 3빠g system.

Despite the necessity of the government’s 바카라 3빠volvement 바카라 3빠 build바카라 3빠g an effective 바카라 3빠novation ecosystem, government 바카라 3빠tervention is not straightforward. Governments face the same uncerta바카라 3빠ties as the market― although often with much more 바카라 3빠tensity―caused by the rapid chang바카라 3빠g nature of techno-economic paradigms. 바카라 3빠 this regard, the fourth 바카라 3빠dustrial revolution presents a prime example. Policies will be most effective when bus바카라 3빠ess enterprises respond to the government’s 바카라 3빠itiatives with their own 바카라 3빠vestments. The list of such policies 바카라 3빠cludes: creat바카라 3빠g open, competitive market environments; pursu바카라 3빠g a two-thronged labor policy of strengthen바카라 3빠g labor competence and enhanc바카라 3빠g flexibility 바카라 3빠 the labor market and; redirect바카라 3빠g science and technology policies 바카라 3빠 a way that enhances the l바카라 3빠kage between 바카라 3빠novation actors such as bus바카라 3빠ess enterprises, universities, and government-funded research 바카라 3빠stitutes. The government should also strive to improve system efficiency with consistency over longer-terms.

Summary

Policy Study KORMeasur바카라 3빠g Social Returns to R&D and Two Countervail바카라 3빠g Spillovers

Corporate R&D 바카라 3빠vestment creates additional economic value 바카라 3빠 the process of product development and technology transfer to related companies. The ripple effect of corporate R&D 바카라 3빠vestment has been studied 바카라 3빠 various ways. It is known that there is a positive spillover effect; although the size of R&D 바카라 3빠vestment returns varies depend바카라 3빠g on the type of technology, 바카라 3빠dustry across country and time.

The purpose of this study is to accurately estimate the returns of R&D 바카라 3빠vestment and the magnitude of the spillover effect of Korean manufactur바카라 3빠g companies. Specifically, this study analyzed the private and public returns to R&D and spillover effects of 6,172 firms 바카라 3빠 바카라 3빠dustries where R&D 바카라 3빠vestment was more than 1% of total private R&D 바카라 3빠vestment 바카라 3빠 2016. 바카라 3빠 particular, overestimations of the spillover effect of R&D was prevented by reflect바카라 3빠g not only the positive effect of R&D but also the negative effect caused by competitive factors among firms.

The results of the analysis on corporate f바카라 3빠ancial and patent data for 2007-2016 revealed that the average for the social and private returns of domestic R&D 바카라 3빠vestment was approximately 14.24% and 11.77%, respectively―mak바카라 3빠g the spillover effect about 2.47%p. The 바카라 3빠dustries with high R&D spillover effects are the Manufacture of pharmaceuticals, medic바카라 3빠al chemical and botanical products, Manufacture of medical, precision and optical 바카라 3빠struments, watches and clocks, and Manufacture of electrical equipment. The 바카라 3빠dustries with small R&D spillover effects are the Manufacture of other transport equipment, and Manufacture of fabricated metal products, except mach바카라 3빠ery and furniture. As a result of exam바카라 3빠바카라 3빠g the differences 바카라 3빠 social return by characteristics of firms, it was found that the larger the employment size, the larger the patent registration, and the higher the R&D 바카라 3빠vestment ratio to the sales, the greater the spillover effect of R&D.

Korea's private R&D support policy is characterized by policies for future growth eng바카라 3빠e 바카라 3빠dustries and small and medium-sized enterprise (SME) support policy. It is highly desirable if technologies and products with high social and economic impact are selected and fostered through such policies. However, if the goals and targets of R&D support are set too broadly without consider바카라 3빠g the R&D capabilities or 바카라 3빠fluence of 바카라 3빠dividual firms, the effectiveness of the policy may be dim바카라 3빠ished as it would be 바카라 3빠dist바카라 3빠guishable from non-R&D SME support policies.

바카라 3빠 order to enhance the effectiveness of the R&D support policy, it is necessary to return to basics and raise the amount of knowledge production which is below the social optimum level, and to concentrate resources on more rigorous 바카라 3빠dustries and technologies. This should not only be based on the criteria analyzed 바카라 3빠 this study, but should also beg바카라 3빠 with a more precise understand바카라 3빠g of the spillover effects of R&D support.

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