South Korea’s 1 rapid transformation from a war-torn agrarian economy to an advanced industrial power has beenprimarily attributed to the strong role played by the developmental state, where the state utilises various tools andpolicies to foster domestic industry development and economic transformation. However, while the manufacturingsector was once the primary growth driver, the current economy is witnessing a shift towards the service industry, marking South Korea's gradual transition into a post-industrial society. The paper tends to look at how the state’srole has been transforming and how it has turned into a facilitator for growth and development. The paper has onecentral question: How has the role of the state evolved as the economy transitioned into a post-industrial economy, particularly in relation to innovation and entrepreneurship? The paper concludes that the state has helped tofacilitate a sustainable and productive ecosystem for innovation by leveraging its high-skilled and educatedworkforce and its highly advanced infrastructure.
Smita Deka (Tue,) studied this question.