| Sumario: | This chapter sets out an overarching framework for Korea's National Innovation System. It starts by summarising Korea's past and current economic performance by way of international comparison. Next, it highlights Korea's innovation system's key strengths, given its preparedness for transitional challenges, including the digital transformation, its growth in labour and multifactor productivity and innovation inputs. Subsequently, it elaborates on Korea's industry structure and how it sets the conditions for innovation, particularly regarding knowledge-intensive activities. Pursuant to a discussion of Korea's current positioning in global value chains and the impact it has on technological sovereignty and potential for innovation, this chapter finally addresses Korea's particular vulnerabilities in the face of arising societal challenges, notably the green transition and population aging, and how these may affect framework conditions for innovation.
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