Journal of Entrepreneurship Research

Journal of Entrepreneurship Research

A Review of South Korea’s Innovation System Governance: Deriving Policy Implications for Steering the Knowledge-Based Economy

Document Type : Review Article

Authors
Negin Fallah Haghighi 1
Hamin Ahmadi 2
Gholamhossein Abdollahzadeh 3
Mohammad Sharif Sharifzadeh 4
1 Department of Technology Development Studies (DTDS), Iranian Research Organization for Science and Technology (IROST), Tehran, Iran.
2 Department of Political Science and Law, Faculty of Literature and Humanities, Lorestan University, Khorramabad, Iran.
3 Department of Agricultural Extension and Education, Gorgan University of Agricultural Sciences and Natural Resources, Gorgan, Iran.
4 Department of Agricultural Extension and Education, Faculty of Agricultural Management, Gorgan University of Agricultural Sciences and Natural Resources, Gorgan, Iran.
10.22034/jer.2025.2053446.1264
Abstract
Introduction: Given the rapid advancement of knowledge and technology across various fields, identifying emerging trends and developing mechanisms to monitor, assess, and translate these advancements into national income and wealth has become increasingly important. In this context, the development of models, metrics, indices, and indicators capable of monitoring, evaluation, impact assessment, trend analysis, and benchmarking-particularly at the international level-can contribute to more effective science, technology, and innovation (STI) governance and policymaking. Accordingly, this study reviews the governance dimensions of South Korea’s innovation system with the aim of deriving policy implications for steering a knowledge-based economy and generating insights for the governance and policymaking of Iran’s STI system.
Methodology: A systematic review was employed as the primary research approach. The study addressed two main questions: (1) What are the key features of the national model of innovation governance, policy formulation, and evaluation in South Korea? and (2) What policy implications can be derived from the South Korean experience for the Iranian context? A systematic search initially identified 294 articles. Following several stages of screening and evaluation, studies that were not sufficiently aligned with the research objectives were excluded. Ultimately, 33 articles were selected for in-depth analysis. The inclusion criteria comprised publication in reputable academic databases, methodological rigor and reliability of research data, substantive relevance to innovation governance, management, policymaking, and evaluation, and the absence of duplicate studies.
Findings: The conceptual synthesis of the selected studies resulted in three major thematic categories: (a) the profile of the innovation system, (b) the key characteristics of innovation policy, and (c) essential metrics for assessing and valuing innovation in South Korea. The findings indicate that South Korea’s innovation system is characterized by a coherent and dynamic combination of targeted government support policies, effective public research institutions, a strong higher education sector, and substantial private-sector investment, particularly by large business conglomerates (Chaebols). South Korea has strengthened its innovation chain through a commercialization-oriented approach, supported by well-established innovation clusters and business networks. The country has also actively pursued international R&D collaboration to strengthen its innovation capabilities and enhance the global integration of its innovation system. In addition, South Korea has implemented national innovation surveys with a particular emphasis on impact-oriented indicators for assessing the outcomes and broader effects of innovation.
Conclusion / Implications: The findings suggest that South Korea’s experience offers important policy lessons for strengthening the governance of Iran’s innovation system. In particular, greater policy coherence, stronger linkages among government, universities, research institutions, and the private sector, a stronger focus on innovation commercialization, the development of innovation clusters and business networks, the promotion of international R&D collaboration, and the adoption of impact-oriented innovation indicators can contribute to more effective governance of Iran’s innovation system and support the transition toward a more dynamic and competitive knowledge-based economy.
Keywords
Knowledge economy, South Korea'
s innovation ecosystem, national innovation policy, innovation governance
Subjects
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  • Receive Date 23 February 2025
  • Revise Date 08 June 2025
  • Accept Date 08 June 2025