Towards knowledge-based economy in Korea: metrics and policy

Knowledge is increasingly recognised as the key to determining competitiveness in the 21st century, emphasising the role of information, technology and learning in economic performance. The objective of this paper is to identify the importance and characteristics of a knowledge-based economy and to describe the current position of Korea in the process of transformation from a traditional resource-based economy to a knowledge-based economy. Indicators of a knowledge-based economy, in terms of inputs and outputs, are examined. It also suggests policy alternatives for successful transformation.