STI policy issues identified during the transformation of the Korean system in the 2000s were: innovation-driven STI initiative, promotion of Korea’s technology market and technology companies, cultivation of university research, basic and fundamental research, facilitating industry and science partnerships. | 100 STI in history: Issues and policies in the STI leadership phase LOOK OUT TO THE WORLD STI in History: ISSUES AND POLICIES IN THE STI LEADERSHIP PHASE Dr. JeongHyop Lee1 Science and Technology Policy Institute (STEPI) 1. Context and STI policy issues The science, technology, and innovation (STI) system of Korea began to enter a qualitatively different development phase in the 2000s. This is partly because of the limits of the previous catch-up model. As a result, this transition to the Korean system has also been influenced by various political, economic, and environmental issues of global dimensions. The Korean system is now being asked to act as a role model for the development of the international community. The local dimension (which has been neglected in the rapid development of the Korean economy) has emerged to formulate a certain position in the STI initiatives of Korea. The Korean system evolved from a simple system to a complex one in the 2000s, which is reflected in the STI system diversity of actors and issues. Technology-driven development of previous phases was primarily geared towards problem-solving by leveraging foreign technologies. However, this is not without its drawbacks. Two of which are 1) no benchmarking technologies for a handful of large companies and 2) the limitation of economies of scale based on corporate competitiveness in the global market. Therefore, this transition has evolved from a development mode of technology-driven to innovation-driven development. During the early 2000s, these problems were exacerbated by the socioeconomic challenges caused by the 1997 Asian Financial Crisis and the 2008 Global Financial Crisis. Such financial challenges had a positive impact on the system to focus on core capacity areas, to enhance the venture economy sector, and the adaptation to global standards through 1 Research Fellow, Science and Technology Policy Institute (STEPI) JSTPM Vol 4, No 1, 2015 101 massive restructuring and .
