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Title Regional Research Seminar – Current Status and Improvement Direction of Local Industry Support
Date 2018-04-13 Hit 802  

  On April 13, the Office of Entrepreneurship and Innovation Studies held an internal seminar under the theme of ‘Current Status and Improvement Direction of Local Industry Support’. Jeong-hoon Kang, the head of Regional Industry Planning Team of Korea Institute for Advancement of Technology (KIAT) was invited to make a presentation. Many researchers of STEPI participated and discussed on related issues. Currently, the policy for nurturing local industry has been led by the Ministry of Commerce, Industry and Energy to enhance local cities’ competitiveness by cultivating each region’s specialized industries.

  In the presentation, the progress and achievement of each regime’s regional industry promotion policy were introduced, which led to a discussion with the participants on the problems and improvement direction of such policies.

  The regional industry promotion policy was started as a pilot project for an innovation cluster in the People’s Government, and then expanded to regional strategic industry in the Participation Government. The Lee Myung-bak administration converted it to R&D-oriented regional industry to enhance global competitiveness and strengthened support for export. And the Park Geun-hye administration put more focus on the job creation of industry. Major regional industry promotion projects include regional development plan, regional industry development plan, and regional industry supporting plan, which are resulted in the balanced regional development, the enhancement of regional innovation capability and the growth of regional key industries.


  Despite these achievements, multiple problems were pointed out. To name a few, the vulnerability of regional industry in environmental changes, support concentration on manufacturing industry which undermines autonomous growth, weakened investment effect under limited budget, and the limitations for discovering and cultivating new business. In order to improve the issues, it was claimed that we need to build a new growth hub that can accelerate nation-wide balanced growth. In particular, many reached a consensus that we need to nurture new industries and form a cross-regional ecosystem through cooperation between regions in preparation for the 4th industrial revolution. Also, some highlighted the need to foster the competitiveness of regional specialized business and crisis response capability by transforming each region’s key business to smart business.


  The Office of Entrepreneurship and Innovation Studies of STEPI plans to hold seminars in relation to the innovation of regional SMEs on a continuous manner throughout the year.