ABSTRACT
Introduction Korea has evolved from being a very poor country into a developed country. The GDP per capita of Korea increased from 80 US$ in 1962 to 20,591$ in 2011. There has been no other such remarkable story in the world. What are the reasons for this phenomenon? There are two important reasons for Korea’s success: technological innovations and the active role of the government. These two factors are interrelated and the Korean government has supported very actively the generation, improvement and utilization of technological innovations.
