Challenges for Korea's growth engines: in the third of a series of articles focusing on South Korea, Sarah Hill * examines the challenges facing the nation as it strives to reinvent its economy.(SOUTH KOREA IN FOCUS)(A Group Council)

Business Asia | December 1, 2003| | Copyright

The South Korean government has selected 10 new hi-tech industries to serve as "cash-cows" over the next five years, marking a push towards a more innovation-driven economy.

There are, however, many challenges South Korea must overcome before it can realise its vision of future development. Many of its current systems require an overhaul, including infrastructure for research and development, education, legal frameworks, and international trading and technology linkages. Finally, concentrating on feeding 10 "cash-cows", especially when other countries are doing ...

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