영문레포트) Globalization and Innovation in South Korea

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Globalization and Innovation in South Korea
Introduction
Political and Regulatory Framework
Implications on MNCs
Significance of the environment to industries in South Korea
National Innovation System of South Korea
MNCs and South Korea National Innovation System
Leveraging the Features of NIS
Conclusions and Recommendations

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Globalization and Innovation in South Korea
Introduction
South Korea was very affluent around the 20th Century trying to catch up with countries like America and Europe, towards gaining material affluence for achieving high levels of economic growth and better the state of living for its people; today the nation is in a historic time- given the significance of modernization era pioneered by Meiji Restoration in 1868 and the period that followed World War II. Domestically the nation is experiencing a decline in its birth rate and an aging population; internationally there are issues to do with globalization, revolution in information and technology, emergence of China as a main competitor and environmental degradation concerns. The economic outlook presents South Korea with a poor capital spending and a low employment ratio that weakens the domestic consumption strength. The poor labor market and corruption hold the Korean economic freedom.

An analysis of Globalization and National Innovation Concepts (NIS) is crucial to understanding gulf economic development and a powerful benchmark for formulating policies and putting up relevant institutions capable of addressing and narrowing such an economic gulf. The country is currently ranked 15th among the World’s largest economies and one of the Asia’s best democracies that supports global commerce and innovation.

Political and Regulatory Framework
The political and legal framework is a very crucial concept in globalization and innovation. The Legal/political framework majors around taxation, property rights, recourse, and institutional environment, pricing transfer, import and export systems, regulating corrupt business practices,

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