One of the development stage of a country is the rise of corporations. It’s starts with hundreds of people pouring money in a venture. How can I investing in that ? Somali stock market? Is important we have corporations that have the power to carry out capital intensive production.
South Korea’s position as one of the world’s most innovative nations, is a remarkable achievement considering that, for the first half of the twentieth century, it was an agrarian-based Japanese colony, then a battle ground.
The high R&D intensity that helped South Korea become a global leader in information and communication technologies has emerged from a historically ‘top-down’ innovation system that promotes “close collaboration between government, industry, and the academic community in the process of nation building”
These ideas supported the emergence of large industrial groups called chaebols, which were owned and controlled by South Korean individuals or families. The government pushed the chaebols to invest heavily in R&D while shielding them from competition. With increased R&D intensity that focused on applied knowledge, chaebols such as LG, Lotte and Samsung were driven towards new heavy industries, including petrochemicals, car manufacturing and shipbuilding, as well as consumer electronics.
South Korea’s position as one of the world’s most innovative nations, is a remarkable achievement considering that, for the first half of the twentieth century, it was an agrarian-based Japanese colony, then a battle ground.
The high R&D intensity that helped South Korea become a global leader in information and communication technologies has emerged from a historically ‘top-down’ innovation system that promotes “close collaboration between government, industry, and the academic community in the process of nation building”
These ideas supported the emergence of large industrial groups called chaebols, which were owned and controlled by South Korean individuals or families. The government pushed the chaebols to invest heavily in R&D while shielding them from competition. With increased R&D intensity that focused on applied knowledge, chaebols such as LG, Lotte and Samsung were driven towards new heavy industries, including petrochemicals, car manufacturing and shipbuilding, as well as consumer electronics.
